CITIC Capital Acquisition in an 8-K filing today included a slide deck outlining its proposed merger with Quanergy Systems, a supplier of self-driving car technology.
Quanergy is the latest company developing LiDAR technology — which uses laser beams to help generate a three-dimensional map of the road — to combine with a SPAC to go public. Others that have done so include Peter Thiel-backed Luminar Technologies and AEye.
The deal values Quanergy at about $1.1 billion. Read more.