SES AI says ‘no near-term plans to raise capital’

SES AI announced that it has a strong liquidity position and has no near-term plans to raise capital and that the registration statement on Form S-3 it filed with the SEC on April 25 has been declared effective by the SEC. "We ended 2022 with available liquidity of $390 million, defined as cash and cash equivalents plus short-term investments. We continue to believe that we have sufficient funding to reach commercialization," said CFO Jing Nealis. "At this time, we do not have any near-term plans to issue the new securities registered under the Registration Statement. We believe the availability of an effective shelf registration statement will provide us with the flexibility to respond efficiently and cost effectively to market conditions and other strategic considerations should financing opportunities arise that are in the best interests of our shareholders, and we reserve the right to do so. But we have no near-term plans to fundraise".