The US Bankruptcy Court gave an order approving the sale of the certain assets of Quanergy Systems, Inc. on February 2, 2023. The debtor has been authorized to sell its certain assets to Rolisi, LLC, the successful bidder for a purchase price of $3.15 million in cash pursuant to the asset purchase agreement, dated February 1, 2023. At the auction held, Rolisi, LLC emerged as the winning bidder by offering a purchase price of $3.15 million whereas Quanergy 3D, LLC, hereby declared the next-highest bidder.

The buyer is represented by Howard Cohen and Ely Goldin of Fox Rothschild LLP as its legal advisor.