NEW YORK, Feb. 13, 2020 /PRNewswire/ -- CITIC Capital
Acquisition Corp. (the "Company") today announced the closing of
its initial public offering of 27,600,000 units, which includes
3,600,000 units issued pursuant to the exercise by the underwriters
of their over-allotment option in full. The offering was priced at
$10.00 per unit, resulting in gross
proceeds of $276,000,000.
CITIC Capital Acquisition Corp. is a blank check company
incorporated for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses. While the Company
may pursue an initial business combination target in any business
or industry, the Company intends to search globally for companies
in the energy efficiency, clean technology and sustainability
sectors, with a focus on companies that the Company believes can be
positioned for success in China,
as well as other markets in Asia
and beyond.
Credit Suisse acted as the sole book running manager of the
offering.
The Company's units began trading on The New York Stock Exchange
(the "NYSE") on February 11, 2020
under the ticker symbol "CCAC.U". Each unit consists of one Class A
ordinary share and one-half of one redeemable warrant, with each
warrant whole exercisable to purchase one Class A ordinary share at
a price of $11.50 per share. After
the securities comprising the units begin separate trading, the
Class A ordinary shares and the warrants are expected to be listed
on the NYSE under the symbols "CCAC" and "CCAC WS,"
respectively.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on February 10, 2020.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these 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 any such state or
jurisdiction.
The offering is being made only by means of a prospectus. Copies
of the prospectus relating to this offering may be obtained from
Credit Suisse Securities (USA) LLC
at Attn: Prospectus Department, Eleven Madison Avenue, 3rd floor,
New York, NY 10010, by telephone
at (800) 221-1037 or by email at
usa.prospectus@credit-suisse.com.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's search for an initial business combination.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement for the initial public offering filed with the SEC.
Copies are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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SOURCE CITIC Capital Acquisition Corp.