Reverse Recapitalization (Tables)

9 Months Ended

Sep. 30, 2022

Reverse Recapitalization [Abstract]

Summary of Business Acquisition Elements Reconciled To Consolidated Financial Statements

The following table reconciles the elements of the Business Combination to the condensed consolidated statements of cash flows and the condensed consolidated statements of stockholders’ equity for the nine months ended September 30, 2022 (in thousands):

Cash - CCAC’s trust and cash (net of redemption)	$	13,414
Cash - PIPE		36,950
Less: transaction costs and advisory fees paid		(6,609	)
Net cash from Business Combination and PIPE Financing		43,755
Less non-cash net liabilities assumed from CCAC		(15,955	)
Net contributions from Business Combination and PIPE Financing	$	27,800

Summary of Number of Shares of Common Stock Issued Immediately Following The Consummation of The Business Combination

The number of shares of common stock issued immediately following the consummation of the Business Combination were:

CCAC Class A Ordinary Shares, outstanding prior to Business Combination	1,380,000
CCAC Class B Ordinary Shares, outstanding prior to Business Combination	345,000
Less: redemption of CCAC Class A Ordinary Shares	(1,313,390	)
Shares issued from PIPE Financing	184,750
Total Shares from Business Combination and PIPE Financing	596,360
Legacy Quanergy shares(1)	3,574,099
Total shares of common stock immediately after Business Combination	4,170,459

Summary of Number of Legacy Quanergy Shares

The number of Legacy Quanergy shares was determined as follows:

	Quanergy shares	Quanergy shares, effected for Exchange Ratio
Balance at December 31, 2020	234,785	911,017
Recapitalization applied to Convertible Preferred Stock outstanding at December 31, 2020	7,695,112	1,877,334
Shares issued upon exercise of options - 2021	999	3,878
Shares issued upon exercise of common stock warrants - 2021	115	448
Issuance of restricted stock awards	14,999	58,199
Conversion of 2023 Notes(2)	186,380	723,223
Total		3,574,099