China-based CITIC Capital Acquisition and Quanergy Systems, a provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT, announced that the SEC has decalred effective the SPAC’s registration statement outlining the proposed merger of the companies.
CCAC also scheduled a Jan. 31 meeting for sharehodlers to vote on the deal, which values the combined comapneis at $1.1 billion.
The shareholder vote originally scheduled nearly two months ago was postponed while the SPAC responded to SEC questions about the deal.
If approved, upon closing Quanergy Systems is expected to list on the New York Stock Exchange (under ticker symbol QNGY. Read more.
