CITIC [NYSE: CCAC] All Set to Merge with Quanergy

CITIC Capital Acquisition Corp. [NYSE: CCAC] disclosed that U.S. SEC has declared effective the CCAC’s registration statement on Form S-4 (the Registration Statement), relating to the earlier announced proposed business combination on January 6, 2022. The Registration Statement shares important information about CCAC, Quanergy, and the Business Merger.

Furthermore, the company also confirmed that it is planning to schedule its extraordinary general meeting (Extraordinary Meeting) to authorize the Business Combination on January 31, 2022, at 10:00 a.m. Eastern Time. If the proposals at the Extraordinary Meeting are authorized, the parties expect that the Business Merger will close shortly thereafter, dependent on the fulfillment or waiver of all other closing conditions.

In addition, owners of CCAC shares of common stock at the close of business on the record date of December 13, 2021, are eligible to notice of, and to vote at, the Extraordinary Meeting. CCAC has also submitted with the SEC a definitive proxy statement/prospectus relating to Business Merger and has started mailing the definitive proxy statement/prospectus to its shareholders as of the record date.

The merged business will be known as Quanergy Systems, Inc. and will be traded on the NYSE under the ticker symbol “QNGY” once the deal is finalized. The board of directors of CCAC has reported that the shareholders vote “FOR” all proposals at the Extraordinary Meeting by proxy via telephone, Internet, or by signing, date, and returning the proxy card immediately after the receipt, following the simple directions on the proxy card.