Quanergy Sold For $1.9 Million, Plummeted From $1.4 Billion Peak
Quanergy has reached a deal to sell itself to an investor for $1.9 million, down 99.86% from its peak market value of about $1.4 billion a year ago.
In this report, IPVM examines the bidding process, the buyer, the full costs, workers being terminated, and ramifications for the LIDAR market.
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******** **** ****** ** ******** **** through * **** ******, *** ***** for******* ** ********** ************ ******** **** ** ****** *****, in ******** ****. *** ******* *** faced ********** **** *** **** ****, including * ******* *******, ******* ******** in *****, ************* *** *** ********** in *** ******** ******** ******, * loss ** * ****** *******, *** its **** ** * ********** ******* oligarch.
Bidding *******
************* * ****** **** *** ***** on ***. **, ****, ******* **** it *** ******* ** ********* **** a ********** ****** ** ** *******. In ********** *******, *** *******'****** ************* *******, ******** *******, *** ********, ***** ****** *******-***** ****** ***, ********* *** process.
******** *** ******* ********* ** **** itself *** ****** ****** ****** *** bankruptcy **********, ** ******* **** *** potential ******* ******* "******* ********," *** it ******** **** "********* ****," ********* to *******. *** ***** ****/****** *** bid *** *** "******* *** ****" offer, ********* ** *******.
Cash *** ********** ** ****
***** *********** *********, ***** *** ******** ** * bankruptcy ***** ** ***. *, ****, the ***** **** *** $*.* ******* in **** *** ********'* ****** *** take ** **** ** *** *****, including ********* *********.
** ********* ** *** ******** *********, the ***** **** **** ** *** outstanding ******* *** ** *** ******* contracts, **** ** ***** *** ********* for ********** **********.
*** *******'* ********* ** ******* ******* $41,316.21 **** *** *** ***** ** its *********, ********** ************ *** **** than $* ******* **** ** ************ Sanmina ****.
Workers ********
*********, *** ********* **** *** ********,********* ** ********. ******* **** ******** ** ** email **** ** ********* ** ***. 1, ****, ** *** *******'****** ***** ********* *******, **** ********,**** **** ***** ** **** *** in ***** ** *** ****.
*************, ** ********** ************ *** *** the **** ****** *** ******** ** December, ** **** ** ****** ******* with *********** *** ** ********* ** Tuesday, ******** *, ****. **** **** be **** **** ******* *** **** Quanergy ******* ***.
** *** *****, ******** **** ** is "******** **** *** ***** *** be ********** ** ******** ********** ** some ****** ** *** **** ******."
*******, ** * ***. **, **** filing **** *** ********** *****, **** said ****** *** "**** ** ****-******** offers ** ********** ** ************ ** any ** *** ******'* ******* ** former ********, ******, ** *********."
**********, *** *******'* ***, ***** *******,********* ** ***** *************** ***. **, ****.
Quanergy's *****
*** ********* ** ******, ***** ****, is * ****** ******** ******** ********* ******* **********-****, ********* ** *** ******** *******. His ******* **** ** ** ** "investor ** ******** *** ******** ****, director, ******* ** ******** *** ****** companies, ******," *** ** ** ********** with * **** ****** ***** *******, according ** *** *******.
*** ******** ******* **** *** ******* ROLISI. ******* ****** *** ***** ******* has * *******. ****, *** ********* himself ** * "******** ******," *** written * ****** ** ***** ****************: ******* ******** *** **** **********.
** *** ****** ******, ******* **** it ** *** "************* **** ****** currently *** *** *****, *** **** a ***** ** *** ******'* *****,***** *********, *** ****** * ****** ** ROLISI ***** ** ** ********* *** Closing ****."
****'* **** ********** ** * ***** Russian ****** ** ***********, ***** ********'* past **** ** ******* *********** ******* Usmanov. ******* ****** ******* ********** ******* **** **** *******'* ******* fund ******** $*** ******* ** ******** through * ********* **** ** *** financial *******. ****.*. *** ********** ********* ********** **** ******'* ******** ** Ukraine.
**** ********* ** ****, **** **** he **** *** **** * ********** to ******* *** ******** ** ******* further ** *** ****.
Ramfications *** *****
*** ****** ************** ***** *** **** deal *** ******** ****** ** ******** 2022 *** ***** $*.* *******. ***** that ****, *** ***** ***** *** plunged **** * **** ** ***** $77.80 ** ***. **, **** ** its******* ***** ** ***** * *****.*** ****** **** *** *******, *** market ***** ** **** $***,***.
*** ****-*********** ** *** *******'* ****** value ** *** * ******** **** for *****, *** ** *** ******* issues ********** ** ******** — ********* its ***** ** *** ******** ******** market ***** *** ********** ***** ******* challenges.
***'* ** *** **** ***'* *** anywhere **** **** ******** ** **** fired *** ***** *********?
*** ******** **** **** ***** **** in *** **** ****** ** **** showing ******** ** *****...
****, **** ***********, *.*.********* **** ****** ** ********:
**** ****, *** ******* ***** ******, it's *** **** ** *** **** down **********, ** *** ****** *** pennies ** *** ******. *** *********** is **** *** *** ***** ***** to **** ********* ** ****** ** possible ** ******** ********* ******** *** customers.
**** ****** ***** ***** *** ********* to ******* *** **** **********.
****** ***, **** ** *********** ** see *** **** *** *******.
******** **** ****** * ***** ******* on*************** ** *** ************ ****.
*** ******* **** **** * "***** of ********* **** ******** ****** ******** Systems ***. ***** ****** ***** *********" has ******** *** ****** *** ******** along **** *** **** "********" *** "will ****** * ******* ******** ** LiDAR ******* *** ***** ** *********."
**** *******, *** ****** ***** ****** ******* of *** *******, ** *** *** CEO.
** **** ******** ** ******* *** company *** *** ***** ** ** resumes ********** ***** *** ********** ****.
******, *** ********* **** ** **** *** **** a ********** ** ******* *** ******** to ******* ******* ** *** ****.