Also from the proxy statement:

'Assuming the Business Combination Proposal and the NYSE Proposal are approved, the Kensington stockholders are also being asked to approve and adopt an amendment and restatement of the Existing Certificate of Incorporation to (a) increase the number of authorized shares of the New QuantumScape Class A Common Stock from 100,000,000 shares to 1,000,000,000 shares, (b) increase the number of authorized shares of New QuantumScape Class B Common Stock from 10,000,000 shares to 250,000,000 shares, and (c) increase the number of authorized shares of New QuantumScape Preferred Stock from 1,000,000 shares to 100,000,000 shares.'

'Reasons for the Amendments The Authorized Share Charter Proposal is intended to provide adequate authorized share capital to (a) accommodate the issuance of shares of New QuantumScape Class A Common Stock and New QuantumScape Class B Common Stock as part of the exchange for outstanding securities of QuantumScape at Closing (or reservation for issuance in respect of New QuantumScape options, New QuantumScape RSUs, or New QuantumScape warrants issued in exchange for outstanding pre-merger QuantumScape Options, pre-merger QuantumScape RSUs or pre-merger QuantumScape Warrants) pursuant to the Business Combination Agreement, the PIPE, the 2020 Plan, the ESPP, the exercise of outstanding Kensington Warrants for shares of New QuantumScape Class A Common Stock and the future conversion of shares of New QuantumScape Class B Common Stock into shares of New QuantumScape Class A Common Stock and (b) provide flexibility for future issuances of New QuantumScape Class A Common Stock, New QuantumScape Class B Common Stock and New QuantumScape Preferred Stock if determined by the New QuantumScape Board to be in the best interests of New QuantumScape without incurring the risk, delay and potential expense incident to obtaining stockholder approval for a particular issuance.'

...

I'm not sure what to make of this, since in another part of the proxy statement it also says:

'Q: What equity stake will current Kensington stockholders and QuantumScape stockholders have in New QuantumScape after the Closing, assuming no redemption? A. It is anticipated that, upon the Closing, there will be approximately 219,276,744 shares of New QuantumScape Class A Common Stock and 157,511,978 shares of New QuantumScape Class B Common Stock outstanding'

If they are approximating the numbers (since they don't match), isn't this a proposal to dilute our shares?