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Important Information about the Business Combination and Where to Find It CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 800,000 people around the world. CCAC is sponsored by CITIC Capital Holdings Limited, an alternative investment management and advisory company, managing over USD36 billion of capital across 90 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, asset management, and special situations. CCAC consummated its initial public offering and listed its units on the NYSE in February 2020. (NYSE: CCAC) is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. For more information: ĬITIC Capital Acquisition Corp. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. GEM is a $3.4 billion, alternative investment group with operations in Paris, New York, and Los Angeles. For more information, please visit us at About GEM Quanergy solutions are deployed by over 350 customers across the globe. Through Quanergy’s smart LiDAR solutions, businesses can now leverage real-time, advanced 3D insights to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces and much more.
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Quanergy has developed the only true 100% solid state CMOS LiDAR sensor built on optical phased array (“OPA”) technology to enable the mass production of low-cost, highly reliable 3D LiDAR solutions. Quanergy Systems’ mission is to create powerful, affordable smart LiDAR solutions for automotive and IoT applications to enhance people’s experiences and safety.
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The funding certainty provided by the GEM facility will allow us to aggressively pursue our growth objectives as we execute our product roadmap and market the benefits of our leading LiDAR sensor and 3D perception solutions to customers and partners globally.” “This capital commitment will also provide us with flexibility to utilize the facility on an as-needed basis over a period of three years. Kennedy, Quanergy Chairman and Chief Executive Officer. “The GEM facility will provide significant access to capital upon the closing of our planned merger with CCAC,” said Dr.
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Proceeds from the GEM facility will be used for working capital and general corporate purposes. Concurrent with the closing of the business combination, GEM will be issued warrants to purchase up to 2.5% of the common stock of the Company with an exercise price of $10.00 per share. The Company will control the timing and maximum amount of each drawdown under the GEM facility and has no minimum drawdown obligation. (the “Company”) and is expected to be listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “QNGY.” The transaction is expected to close in the first quarter of 2022, subject to satisfaction of customary closing conditions. Upon closing of the transaction, the combined company will be named Quanergy Systems, Inc. In June, Quanergy entered into a definitive merger agreement with CCAC. Under the agreement, GEM will provide a Share Subscription Facility (the “GEM facility”) of up to $125 million for a 36-month term following the completion of the planned business combination between Quanergy and CCAC. (NYSE: CCAC) (“CCAC”) today announced that CCAC has secured a $125 million capital commitment from Global Emerging Markets Group (“GEM”), a Luxembourg-based private alternative investment group. (“Quanergy”) and CITIC Capital Acquisition Corp. & NEW YORK-(BUSINESS WIRE)-Quanergy Systems, Inc. Capital Commitment Provides a Strong and Flexible Funding Source to Support Quanergy’s Future Growth