Complete Solaria, a Leading Solar Technology, Services, and Installation Company, Completes Business Combination with Freedom Acquisition I Corp. and Will Commence Trading on Nasdaq Under Ticker Symbol “CSLR”
2023年7月18日 - 7:21AM
ビジネスワイヤ(英語)
- Complete Solaria is a differentiated solar company, with unique
technology and end-to-end solar solutions, which includes
financing, project fulfilment and customer service. Complete
Solaria’s digital platform together with premium solar products
provide a one-stop service for customers.
- The transaction generated committed capital of more than $80
million in gross proceeds including capital from existing public
shareholders of Freedom Acquisition I Corp., PIPE investors and
investors pursuant to forward purchase agreements.
- The business combination will support Complete Solaria’s goal
to continue to scale to meet solar demand, further supporting the
acceleration of the global energy transition.
- Complete Solaria’s organic growth is expected to be strong
through 2024, as its asset light model, secure supply network, and
additional macro tailwinds support the Company’s strong investment
and value creation profile.
- Complete Solaria, Inc. common stock to begin trading on Nasdaq
July 18, under ticker “CSLR”.
Complete Solaria, Inc., a leading solar technology, services,
and installation company, today announced that it has completed its
business combination with Freedom Acquisition I Corp. (“Freedom”),
effective July 18, 2023. The combined company will operate under
the name Complete Solaria, Inc. (“Complete Solaria” or the
“Company”).
Commencing July 18, 2023, Complete Solaria’s common stock and
warrants will trade on The Nasdaq Stock Market (“Nasdaq”) under the
symbols “CSLR” and “CSLRW”, respectively. The Company will continue
to be led by Will Anderson, Chief Executive Officer, and Brian
Wuebbels, Chief Financial Officer, alongside the rest of the
current Complete Solaria management team.
The transaction was approved by Freedom’s shareholders at an
extraordinary general meeting held on July 11, 2023 (the “Special
Meeting”). Votes representing over 76.9% of the issued and
outstanding ordinary shares of Freedom were cast in favor of
approving the business combination. Freedom shareholders also voted
to approve all other proposals presented at the Special
Meeting.
“This is an exciting step for Complete Solaria,” said Will
Anderson, Chief Executive Officer of Complete Solaria. “This
transaction will help Complete Solaria scale rapidly and meet the
current demand we are seeing from our clients who desire to reduce
high energy bills and contribute to a more sustainable future. We
could not have reached this point without the dedication and
support of our employees, customers and partners, for whom we are
grateful. Thank you all.”
Tidjane Thiam, Executive Chairman of Freedom, added, “We are
delighted to have merged our SPAC, Freedom Acquisition I Corp.,
with Complete Solaria and to see Complete Solaria set to start
trading. Technological progress during the last 40 years has made
solar a uniquely competitive and climate friendly source of energy.
We are very excited about Complete Solaria’s growth prospects in
the US where it will now be active in 49 states. In addition, the
development prospects of solar in Europe, the Middle East and
Africa are enormous and are expected to add to Complete Solaria’s
growth over time. We believe Complete Solaria will generate strong
returns for its investors as well as material benefits for
society.”
Advisors
Cohen & Company Capital Markets, a division of J.V.B.
Financial Group, LLC, acted as lead capital markets advisor to
Freedom. Janney Montgomery Scott LLC acted as capital markets
advisor to Freedom. Cooley LLP served as legal advisor to Complete
Solaria. Paul Hastings LLP served as legal advisor to Freedom. Duff
and Phelps provided a fairness opinion to the Board of Directors of
Freedom in connection with the business combination with Complete
Solaria.
About Complete Solaria
Complete Solaria is a solar company with unique technology and
end-to-end customer offering, which includes financing, project
fulfilment and customer service. Complete Solaria’s digital
platform together with premium solar products enable one-stop
service for clean energy needs for customers wishing to make the
transition to a more energy-efficient lifestyle. To learn more,
visit: https://www.completesolaria.com.
Forward Looking Statements
This press release may contain certain forward-looking
statements within the meaning of the federal securities laws with
respect to the referenced transactions. These forward-looking
statements generally are identified by the words “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “would,” and similar expressions, but the
absence of these words does not mean that a statement is not a
forward-looking statement. Forward-looking statements are
forecasts, predictions, projections and other statements about
future events that are based on current expectations, hopes,
beliefs, intentions, strategies and assumptions and, as a result,
are subject to risks and uncertainties. Many factors could cause
actual future events to differ materially from the forward-looking
statements in this press release, including but not limited to: (i)
risks that the business combination disrupts current plans and
operations of the companies or diverts managements’ attention from
Complete Solaria’s ongoing business operations and potential
difficulties in employee retention as a result of the announcement
and consummation of the business combination; (ii) the outcome of
any legal proceedings that may be instituted in connection with the
business combination; (iii) the ability to maintain the listing of
Complete Solaria’s securities on a national securities exchange;
(iv) the price of Complete Solaria’s securities may be volatile due
to a variety of factors, including changes in the applicable
competitive or regulatory landscapes, variations in operating
performance across competitors, changes in laws and regulations
affecting Complete Solaria’s business, and changes in the combined
capital structure; (v) the ability to implement business plans,
forecasts, and other expectations after the completion of the
business combination, and identify and realize additional
opportunities; (vi) the ability to recognize the anticipated
benefits of the previously consummated Complete Solaria merger and
the business combination, which may be affected by, among other
things, competition, the ability of the combined company to grow
and manage growth profitably, maintain relationships with customers
and suppliers and retain its management and key employees; (vii)
the evolution of the markets in which Complete Solaria will
compete; (viii) the costs related to the previously consummated
Complete Solaria merger and the business combination; (ix) any
impact of the COVID-19 pandemic on Complete Solaria’s business; and
(x) Freedom and Complete Solaria’s expectations regarding market
opportunities.
The foregoing list of factors is not exhaustive. Readers should
carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the
registration statement on Form S-4 filed by Freedom, which was
declared effective by the Securities and Exchange Commission (the
“SEC”) on June 30, 2023 and which includes a proxy
statement/prospectus of Freedom, and other relevant documents filed
by Freedom and Complete Solaria from time to time with the SEC.
Such filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Freedom and Complete Solaria assume no obligation
and do not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise. Neither Freedom nor Complete Solaria gives any
assurance that any of them will achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230717726147/en/
Investor Relations – Complete Solaria Sioban Hickie, ICR,
Inc. CompleteSolariaIR@icrinc.com
Public Relations – Complete Solaria Doug Donsky, ICR,
Inc. CompleteSolariaPR@icrinc.com
Investor Relations – Freedom Adam Gishen, Freedom
Acquisition l Corp. ag@freedomac1.com
Public Relations – Freedom Andy Smith, Powerscourt (U.K.)
andy.smith@powerscourt-group.com
Freedom Acquisition I (NYSE:FACT)
過去 株価チャート
から 5 2024 まで 6 2024
Freedom Acquisition I (NYSE:FACT)
過去 株価チャート
から 6 2023 まで 6 2024