China-based CITIC Capital Acquisition in an 8-K filing said its shareholders voted in favor of the merger with Quanergy Systems, a provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT. The filing did not mention redemptions, if any.
CITIC in December said it secured a $125 million capital commitment from Global Emerging Markets Group, a Luxembourg-based private alternative investment group, to support the deal, which values the combined companies at $1.1 billion. The additional capital followed a $40 million PIPE. CITIC also held about $276 million in trust from a February 2020 IPO. Read more.
