Amprius Technologies reached an agreement with institutional holders to exchange approximately 7.13 million public warrants. The company will issue roughly 2.73 million shares of common stock to complete the swap. Each warrant was previously exercisable for one share at a price of $11.50.
The exchange results in 62% fewer shares being issued compared to a full physical exercise. This move reduces potential shareholder dilution and simplifies the company's capital structure.
The transaction is scheduled to close on May 18, 2026. The deal remains subject to customary closing conditions.