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Quanergy Systems

LidarUSA
💀 Dead / Bankrupt
Peak $1.4 BillionToday
~-99%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $1.4 Billion ’21
  3. 💔
    Became a Unitard
    Dec 2022
  4. 💸
    Last valuation
    ~$0
Current status
Bankrupt (Ch.11 Dec 2022)

How it happened

Quanergy Systems was a lidar developer for automotive and security uses that went public via SPAC in early 2021 at roughly a $1.4B valuation. As the lidar sector cratered and revenue stayed thin, its shares collapsed and it was delisted from the NYSE. It filed for Chapter 11 bankruptcy in December 2022, wiping out nearly all of its value.

Source: De-SPAC 2021