China-backed CITIC Capital Acquisition announced today that it believes it is at the final stage of resolving the SEC’s comments on the SPAC’s proposed merger with Quanergy.
A shareholder meeting was initially scheduled for today on the $1.1 billion deal.
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.
CITIC said it expects to announce a new vote date in the coming weeks. Read more.
