CITIC Capital Acquisition Corp. (CCAC) to Combine with Quanergy in $1.1Bn Deal

CITIC (NYSE:CCAC) has entered into a definitive agreement to combine with lidar-maker Quanergy at an enterprise value of $1.07 billion, or 2x its 2025E revenue. Sunnyvale, California-based Quanergy is developing next-generation lidar arrays for the automotive and industrial automation space to be used for both navigation and imaging purposes. The combined company is expected to
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