CITIC Capital Acquisition, a blank check company formed by CITIC Capital targeting energy efficiency and technology businesses in China, raised $240 million by offering an upsized 24 million units at $10. The company had originally filed to offer 20 million units. Units consist of one share of common stock and one-half of one warrant exercisable at $11.50.
The Beijing-based SPAC is sponsored by CITIC Capital and led by CEO Fanglu Wang, who serves as Senior Managing Director at CITIC, CFO Eric Chan, who serves as CFO and Senior Managing Director of CITIC, and Director Henri Arif, who serves as founder and Managing Director of Tharsis Capital, an impact investing venture firm.
CITIC Capital Acquisition plans to list on the NYSE under the symbol CCAC.U. Credit Suisse acted as lead manager on the deal.
