https://techcrunch.com/2021/06/22/lidar-company-quanergy-to-go-public-via-1-4b-spac-deal/

Quanergy Systems, the Sunnyvale, California-based lidar company, said Tuesday it has agreed to merge with special purpose acquisition fund CITIC Capital Acquisition Corp., a Chinese blank-check firm affiliated with the country’s largest state-owned investment conglomerate.

The deal, which puts an implied valuation on Quanergy at $1.4 billion, is expected to close in the second half of 2021. After closing, the transaction will inject the lidar company with around $278 million in pro forma net cash, including $40 million in private investment in public equity (PIPE) funding.