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Cover Page - shares
9 Months Ended
Sep. 30, 2021
Dec. 13, 2021
Entity Information [Line Items]    
Document Type 10-Q/A  
Amendment Flag true  
Document Period End Date Sep. 30, 2021  
Document Fiscal Year Focus 2021  
Document Fiscal Period Focus Q3  
Trading Symbol CCAC  
Entity Registrant Name CITIC CAPITAL ACQUISITION CORP.  
Entity Central Index Key 0001794621  
Current Fiscal Year End Date --12-31  
Entity Filer Category Non-accelerated Filer  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Shell Company true  
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
Entity Small Business true  
Entity File Number 001-39222  
Entity Incorporation, State or Country Code E9  
Entity Tax Identification Number 00-0000000  
Entity Address, Address Line One 9/F, East Tower, Genesis Beijing  
Entity Address, Address Line Two No. 8 Xinyuan South Road  
Entity Address, Address Line Three Chaoyang District  
Entity Address, City or Town Beijing  
Entity Address, Country CN  
Entity Address, Postal Zip Code 100027  
City Area Code 86 10  
Local Phone Number 5802 3889  
Document Quarterly Report true  
Title of 12(b) Security Class A ordinary shares, par value $0.0001 per share  
Security Exchange Name NYSE  
Document Transition Report false  
Amendment Description CITIC Capital Acquisition Corp. (the “Company,” “we,” “us” or “our”) is filing this Amendment No. 1 to its Quarterly Report on Form 10-Q/A for the quarterly period ended September 30, 2021 (this “Quarterly Report”) to amend and restate certain terms in its Quarterly Report on Form 10-Q for the quarterly period September 30, 2021 originally filed with the Securities and Exchange Commission (the “SEC”) on November 15, 2021 (the “Original Quarterly Report”). Background of Restatement The Company has re-evaluated the Company’s application of ASC 480-10-S99-3A to its accounting classification of the redeemable Class A ordinary shares, par value $0.0001 per share (the “Public Shares”), issued as part of the units sold in the Company’s initial public offering (the “Initial Public Offering”) on February 13, 2021. Historically, a portion of the Public Shares were classified as permanent equity to maintain shareholders’ equity greater than $5 million on the basis that the Company will not redeem its Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001, as described in the Company’s amended and restated memorandum and articles of association (the “Articles”). Pursuant to such re-evaluation, the Company’s management has determined that the Public Shares include certain provisions that require classification of all of the Public Shares as temporary equity regardless of the net tangible assets redemption limitation contained in the Articles. Therefore, on December 13, 2021, the Company’s management and the audit committee of the Company’s board of directors (the “Audit Committee”) concluded that the Company’s previously issued (i) unaudited condensed financial statements as of, and for the three months ended March 31, 2021 included in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2021, filed with the SEC on May 25, 2021and (ii) unaudited condensed financial statements as of, and for the three and six months ended June 30, 2021 included in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2021, filed with the SEC on August 13, 2021 (collectively, the “Affected Periods”), should be restated to report all Public Shares as temporary equity and should no longer be relied upon. As such, the Company will restate its financial statements for the Affected Periods in this Form 10-Q/A. In connection with the change in presentation for the Class A ordinary shares subject to redemption, the Company also restated its earnings per share calculation to allocate net income (loss) pro rata to Class A and Class B ordinary shares. This presentation contemplates an initial business combination as the most likely outcome, in which case, both classes of ordinary shares share pro rata in the income (loss) of the Company. The restatement does not have an impact on the Company’s cash position and cash held in the trust account established in connection with the Initial Public Offering (the “Trust Account”). The financial information that has been previously filed or otherwise reported for this period is superseded by the information in this Form 10-Q/A, and the financial statements and related financial information contained in the Original Quarterly Report should no longer be relied upon. On December 13, 2021, the Company filed a report on Form 8-K disclosing the non-reliance on the financial statements included in the Original Quarterly Report. Internal Control Considerations In connection with the restatement, management has re-evaluated the effectiveness of the Company’s disclosure controls and procedures and internal control over financial reporting as of September 30, 2021. The Company’s management has concluded that, in light of the errors described above, and the filing of the Form 10-Q/A, a material weakness exists in the Company’s internal control over financial reporting and that the Company’s disclosure controls and procedures were not effective. Management plans to enhance the system of evaluating and implementing the accounting standards that apply to our financial statements, including enhanced training of our personnel and increased communication among our personnel and third-party professionals with whom we consult regarding application of complex financial instruments. For a discussion of management’s consideration of our disclosure controls and procedures, internal controls over financial reporting, and the material weaknesses identified, see Part I, Item 4, “Controls and Procedures” of this Form 10-Q/A.  
Capital Units    
Entity Information [Line Items]    
Trading Symbol CCAC.U  
Title of 12(b) Security Units, each consisting of one Class A ordinary share, par value $0.0001, and one-half of one redeemable warrant  
Security Exchange Name NYSE  
Warrant    
Entity Information [Line Items]    
Trading Symbol CCAC WS  
Title of 12(b) Security Warrants, each exercisable for one share of Class A ordinary shares  
Security Exchange Name NYSE  
Class A Ordinary Shares    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   27,600,000
Class B Ordinary Shares    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   6,900,000