NEW YORK, Nov. 17, 2021
/PRNewswire/ -- CITIC Capital Acquisition Corp. (NYSE: CCAC.U)
("CCAC" or the "Company") today provided an update on the timing of
its extraordinary shareholder meeting in connection with its
previously announced business combination (the "Business
Combination") with Quanergy Systems, Inc. ("Quanergy"), which it
previously expected to hold on November 18,
2021. CCAC announced that it believes it is at the final
stage of resolving the comments of the staff of the U.S. Securities
and Exchange Commission (the "SEC") on the registration statement
on Form S-4 (as amended, the "Registration Statement") (File No.
333-257962) filed in connection with the Business Combination, and
expects to announce the date of the extraordinary shareholder
meeting in the coming weeks.
Additional Information and Where to Find It
In connection with the Business Combination, CCAC filed the
Registration Statement with the SEC, which includes the preliminary
proxy statement/prospectus of CCAC. CCAC's stockholders and other
interested persons are advised to read the Registration Statement
and the preliminary proxy statement/prospectus which forms a part
of the Registration Statement, as well as any amendments previously
filed and to be filed, and the effective Registration Statement and
the definitive proxy statement/prospectus and documents
incorporated by reference therein filed in connection with the
Business Combination when available, as these materials will
contain important information about the parties to the Merger
Agreement. After the Registration Statement is declared effective
by the SEC, the definitive proxy statement/prospectus and other
relevant documents will be mailed to the shareholders of CCAC as of
the record date established for voting on the proposed Business
Combination and will contain important information about the
proposed Business Combination and related matters. Shareholders of
CCAC and other interested persons are advised to read, when
available, these materials (including any amendments or supplements
thereto) and any other relevant documents in connection with CCAC's
solicitation of proxies for the meeting of shareholders to be held
to approve, among other things, the proposed Business Combination
because they will contain important information about CCAC,
Quanergy and the proposed Business Combination. Shareholders of
CCAC and other interested persons are advised to read these
materials (including any amendments or supplements thereto) and any
other relevant documents in connection with CCAC's solicitation of
proxies for the meeting of shareholders to be held to approve,
among other things, the proposed Business Combination because they
contain important information about CCAC, Quanergy and the proposed
Business Combination. Shareholders can also obtain copies of the
preliminary proxy statement/prospectus, the definitive proxy
statement/prospectus and other relevant materials in connection
with the transaction without charge at the SEC's website at
www.sec.gov or by directing a request to: CITIC Capital
Acquisition Corp., 28/F CITIC Tower, 1 Tim Mei Avenue, Central,
Hong Kong, Attention: Fanglu Wang, telephone: +852 3710
6888.
Participants in the Solicitation
CCAC, Quanergy and their respective directors and executive
officers may be deemed participants in the solicitation of proxies
from CCAC's shareholders in connection with the proposed Business
Combination. CCAC's shareholders and other interested persons may
obtain, without charge, more detailed information regarding the
directors and officers of CCAC, including their ownership of CCAC's
securities in the Registration Statement. Information regarding the
persons who may, under SEC rules, be deemed participants in the
solicitation of proxies to CCAC's shareholders in connection with
the proposed Business Combination are set forth in the Registration
Statement, which includes the preliminary proxy
statement/prospectus of CCAC. Additional information regarding the
interests of participants in the solicitation of proxies in
connection with the proposed Business Combination are included in
the Registration Statement, which includes the proxy
statement/prospectus that CCAC filed with the SEC. You may obtain
free copies of these documents as described in the preceding
paragraph.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of CCAC or Quanergy, nor shall there be any sale of any such
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the
Securities Act.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as "believe,"
"may," "will," "estimate," "continue," "anticipate," "intend,"
"expect," "should," "would," "plan," "predict," "potential,"
"seem," "seek," "future," "outlook," "project," "anticipate," "will
likely result" and similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. All statements, other than statements of present or
historical fact included in this press release, including those
regarding the anticipated future adoption of our OPA-based
solid-state technology in long range automotive and industrial
applications, our expectations regarding advancements in long range
automotive and industrial applications, increased vertical field of
view and data rates, CCAC's ability to consummate the proposed
Business Combination, anticipated timing of the proposed Business
Combination, and the combined company's future products are
forward-looking statements. These statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of the respective management of CCAC
and Quanergy and are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on
as, a guarantee, an assurance, a prediction or a definitive
statement of fact or probability. Actual events and circumstances
are difficult or impossible to predict and will differ from
assumptions. Many actual events and circumstances are beyond the
control of CCAC or Quanergy. Potential risks and uncertainties that
could cause the actual results to differ materially from those
expressed or implied by forward-looking statements include, but are
not limited to, changes in domestic and foreign business, market,
financial, political and legal conditions; the inability of the
parties to successfully or timely consummate the proposed Business
Combination, including the risk that any SEC or other regulatory
approvals are not obtained, are delayed or are subject to
unanticipated conditions that could adversely affect the combined
company or the expected benefits of the proposed Business
Combination or that the approval of the shareholders of CCAC or
Quanergy is not obtained; the inability to complete the PIPE
offering in connection with the Business Combination; failure to
realize the anticipated benefits of the proposed Business
Combination; risk relating to the uncertainty of the projected
financial information with respect to Quanergy; the amount of
redemption requests made by CCAC's shareholders; the overall level
of consumer demand for Quanergy's products; general economic
conditions and other factors affecting consumer confidence,
preferences, and behavior; disruption and volatility in the global
currency, capital, and credit markets; the ability to maintain the
listing of Quanergy's securities on the New York Stock Exchange;
the financial strength of Quanergy's customers; Quanergy's ability
to implement its business strategy; changes in governmental
regulation, Quanergy's exposure to litigation claims and other loss
contingencies; disruptions and other impacts to Quanergy's
business, as a result of the COVID-19 global pandemic and
government actions and restrictive measures implemented in
response; stability of Quanergy's suppliers, as well as consumer
demand for its products, in light of disease epidemics and
health-related concerns such as the COVID-19 global pandemic; the
impact that global climate change trends may have on Quanergy and
its suppliers and customers; Quanergy's ability to protect patents,
trademarks and other intellectual property rights; any breaches of,
or interruptions in, Quanergy's information systems; fluctuations
in the price, availability and quality of electricity and other raw
materials and contracted products as well as foreign currency
fluctuations; Quanergy's ability to utilize potential net operating
loss carryforwards; changes in tax laws and liabilities, tariffs,
legal, regulatory, political and economic risks. The foregoing list
of potential risks and uncertainties is not exhaustive. More
information on potential factors that could affect CCAC's or
Quanergy's financial results is included from time to time in
CCAC's public reports filed with the SEC, including its Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current
Reports on Form 8-K as well as the other documents CCAC has filed,
or will file, with the SEC, including the final amended
registration statement on Form S-4 that will include proxy
statements/prospectus that CCAC will file with the SEC in
connection with CCAC's solicitation of proxies for the meeting of
shareholders to be held to approve, among other things, the
proposed Business Combination. If any of these risks materialize or
CCAC's or Quanergy's assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
neither CCAC nor Quanergy presently know, or that CCAC and Quanergy
currently believe are immaterial, that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect CCAC's
and Quanergy's expectations, plans or forecasts of future events
and views as of the date of this press release. Neither CCAC nor
Quanergy gives assurance that either CCAC or Quanergy, or the
combined company, will achieve its expectations. CCAC and Quanergy
anticipate that subsequent events and developments will cause their
assessments to change. However, while CCAC and Quanergy may elect
to update these forward-looking statements at some point in the
future, CCAC and Quanergy specifically disclaim any obligation to
do so, except as required by law. These forward-looking statements
should not be relied upon as representing CCAC's or Quanergy's
assessments as of any date subsequent to the date of this press
release. Accordingly, undue reliance should not be placed upon the
forward-looking statements.
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SOURCE CITIC Capital Acquisition Corp.
