What Happened to Quanergy Systems?
Return
0.0%
Current Price
$0
Peak Price
â
Trust Size
$40M
Summary
Quanergy Systems was a Silicon Valley developer of solid-state lidar sensors for autonomous vehicles, mapping, and security applications. The company went public via SPAC merger with CITIC Capital Acquisition Corp in February 2022. It filed for Chapter 11 bankruptcy in December 2022 â less than a year after going public.
What Happened
CITIC Capital Acquisition Corp merged with Quanergy in February 2022. The lidar company was immediately hit by falling demand and rising rates. Less than 10 months after going public, Quanergy filed for Chapter 11 in December 2022, making it one of the fastest SPAC-to-bankruptcy stories ever. The company sought to sell itself in bankruptcy proceedings.
Timeline
2020-02-05
S-1 Registration Filed
2023-12-06
Last SEC Filing