Freedom Acquisition I Corp. Shareholders Approve Previously Announced Business Combination with Complete Solaria, Inc.
12 Juli 2023 - 1:30PM
Business Wire
Freedom Acquisition I Corp. (“Freedom”) (NYSE: FACT), a publicly
traded special purpose acquisition company, today announced that
its shareholders voted to approve the previously announced business
combination with Complete Solaria, Inc. (“Complete Solaria”), at
the extraordinary general meeting of Freedom’s shareholders held on
July 11, 2023 (the “Special Meeting”).
Votes representing over 76.9% of the issued and outstanding
ordinary shares of Freedom were cast in favor of the approval of
the proposal in connection with the business combination at the
Special Meeting. Freedom shareholders also voted to approve all
other proposals presented at the Special Meeting. Freedom plans to
file the results of the Special Meeting, as tabulated by the
inspector of elections, with the Securities and Exchange Commission
(the “SEC”) on a Current Report on Form 8-K.
About Complete Solaria
Complete Solaria is a solar company with unique technology and
end-to-end customer offering, which includes financing, project
fulfilment and customer service. Complete Solaria’s digital
platform together with premium solar products enable one-stop
service for clean energy needs for customers wishing to make the
transition to a more energy-efficient lifestyle. To learn more,
visit: https://www.completesolaria.com.
About Freedom
Freedom is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses. Freedom is led by Executive Chairman Tidjane
Thiam, who previously served as CEO of Credit Suisse and
Prudential. Senior management of Freedom also includes Chief
Executive Officer Adam Gishen and Edward Zeng, a proven
entrepreneur with a strong track record of creating value for
investors across financial services, technology and energy
transition sectors. To learn more about Freedom, visit
www.freedomac1.com.
Forward Looking Statements
This press release may contain certain forward-looking
statements within the meaning of the federal securities laws with
respect to the referenced and proposed transactions. These
forward-looking statements generally are identified by the words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “would,” and similar expressions,
but the absence of these words does not mean that a statement is
not a forward-looking statement. Forward-looking statements are
forecasts, predictions, projections and other statements about
future events that are based on current expectations, hopes,
beliefs, intentions, strategies and assumptions and, as a result,
are subject to risks and uncertainties. Many factors could cause
actual future events to differ materially from the forward-looking
statements in this press release, including but not limited to: (i)
the risk that the proposed business combination may not be
completed in a timely manner or at all; (ii) the risk that the
proposed business combination between Freedom and Complete Solaria
may not be completed by Freedom’s business combination deadline and
the potential failure to obtain an extension of the business
combination deadline if sought by Freedom; (iii) the failure to
satisfy the conditions to the consummation of the proposed business
combination; (iv) the effect of the announcement or pendency of the
proposed business combination on Complete Solaria’s business
relationships, operating results, and business generally; (v) risks
that the proposed business combination disrupts current plans and
operations of the companies or diverts managements’ attention from
Complete Solaria’s ongoing business operations and potential
difficulties in employee retention as a result of the announcement
and consummation of the proposed business combination; (vi) the
outcome of any legal proceedings that may be instituted in
connection with the proposed business combination; (vii) the
ability to maintain the listing of Freedom’s securities on a
national securities exchange; (viii) the price of Freedom’s
securities may be volatile due to a variety of factors, including
changes in the applicable competitive or regulatory landscapes,
variations in operating performance across competitors, changes in
laws and regulations affecting Freedom’s or Complete Solaria’s
business, and changes in the combined capital structure; (ix) the
ability to implement business plans, forecasts, and other
expectations after the completion of the proposed business
combination, and identify and realize additional opportunities; (x)
the ability to recognize the anticipated benefits of the previously
consummated Complete Solaria merger and the proposed business
combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (xi) the
evolution of the markets in which Complete Solaria will compete;
(xii) the costs related to the previously consummated Complete
Solaria merger and the proposed business combination; (xiii) any
impact of the COVID-19 pandemic on Complete Solaria’s business; and
(xiv) Freedom and Complete Solaria’s expectations regarding market
opportunities.
The foregoing list of factors is not exhaustive. Readers should
carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the
Registration Statement and other documents filed by Freedom from
time to time with the SEC. Such filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Freedom and
Complete Solaria assume no obligation and do not intend to update
or revise these forward-looking statements, whether as a result of
new information, future events, or otherwise. Neither Freedom nor
Complete Solaria gives any assurance that any of them will achieve
its expectations.
Important Information and Where to Find It
This press release relates to proposed transactions involving
Complete Solaria and Freedom. Freedom has filed a registration
statement on Form S-4 (the “Registration Statement”), which was
declared effective by the SEC on June 30, 2023 and which includes a
proxy statement/prospectus of Freedom, and other relevant documents
with the SEC. INVESTORS AND SECURITY HOLDERS OF FREEDOM AND
COMPLETE SOLARIA ARE URGED TO READ THE REGISTRATION STATEMENT,
PROXY STATEMENT/ PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH
THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. Investors and security holders will be able to obtain
free copies of documents filed by Freedom with the SEC, through the
website maintained by the SEC at www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230711825872/en/
Investor Relations – Complete Solaria Sioban Hickie, ICR,
Inc. CompleteSolariaIR@icrinc.com
Public Relations – Complete Solaria Doug Donsky, ICR,
Inc. CompleteSolariaPR@icrinc.com
Investor Relations – Freedom Adam Gishen, Freedom
Acquisition l Corp. ag@freedomac1.com
Public Relations – Freedom Andy Smith, Powerscourt (U.K.)
andy.smith@powerscourt-group.com
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