Samsung, Delphi and Sensata-backed lidar technology developer will get a New York Stock Exchange listing through the deal, conducted at a $1.4bn valuation.
Quanergy Systems, a US-based lidar sensor provider backed by corporates Samsung, Delphi Automotive and Sensata Technologies, agreed yesterday to a reverse takeover with special purpose acquisition company Citic Capital Acquisition Corp (CACC).
The merged business will take the New York Stock Exchange listing acquired by CACC in a $240m initial public offering in February 2020, and will have an implied equity value of $1.4bn. It will be buoyed by $40m private investment in public equity financing from unnamed investors.
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