Complete Solaria, Inc. (“Complete Solaria” or the “Company”), a
leading solar technology, services, and installation company, has
appointed T.J. Rodgers Executive Chairman.
Rodgers said, “The opportunity to equip American households with
solar energy is one of the most exciting of our times, and I have
been involved in the sector successfully for many years. I have
been a significant investor in Complete Solaria and believe
passionately in the potential of this company. Complete Solaria is
at a crucial juncture in its history as we are about to start our
life as a public company. The opportunity is clear for all. What we
need to do now is to execute, execute, and execute so that we scale
the company up and generate positive operating leverage. To ensure
that we grow profitably and generate attractive returns for our
investors, I have decided to take a more hands on approach and have
been appointed by the board as Executive Chairman of the company.
This will ensure that Complete Solaria is able to fulfil on its
strong order book and meet the standard of operational excellence
that I expect from the companies that I invest in. My active
involvement in the day-to-day management of the company, along with
recently announced key personnel changes (Arnaud Lepert
announcement) will help the company scale more rapidly and drive
profitable growth in the future. I want to talk to you about recent
measures we have implemented, the early results these have yielded
and the resulting positive outlook we have on the rest of 2023, and
beyond.”
T.J. Rodgers, will be joined by the Executive management team of
Complete Solaria for a one-hour virtual update call for investors
and analysts on June 30, 2023 at 14:30 PM ET. The formal
presentation will be followed by a question and answer session.
Registration is required for this virtual event. To register
click here. The presentation materials, as well as a replay of
the webcast, will be available following the event on the Complete
Solaria Investors page, located at
https://www.completesolaria.com/investors.
About Complete Solaria
Complete Solaria is a solar company with unique technology and
an end-to-end customer offering, which is expected to include
financing, project fulfilment, and customer service, allowing it to
sell more products across more markets and enable more options for
customers wishing to make the switch to a more energy-efficient
lifestyle. To learn more, visit:
https://www.completesolaria.com.
Complete Solaria announced on October 3, 2022 an agreement for a
business combination with Freedom Acquisition I Corp. (“Freedom”)
(NYSE: FACT), a publicly traded special purpose acquisition
company. Upon closing of the business combination, which is
expected to take place in the first half of 2023, subject to
approval by Freedom’s shareholders, the Registration Statement
being declared effective by the SEC, and other customary closing
conditions, the combined company is expected to be listed under the
new ticker “CSLR”.
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 will
include a proxy statement for the solicitation of Freedom
shareholder approval and a prospectus for the offer and sale of
Freedom securities in the proposed transaction with Complete
Solaria, and other relevant documents with the Securities and
Exchange Commission (the “SEC”) to be used at its extraordinary
general meeting of shareholders to approve the proposed transaction
with Complete Solaria. Promptly after the Registration Statement is
declared effective, the proxy statement/prospectus will be mailed
to shareholders as of the record date established for voting on the
proposed business combination between Freedom and Complete Solaria.
INVESTORS AND SECURITY HOLDERS OF FREEDOM AND COMPLETE SOLARIA ARE
URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT,
PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE 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.
Participants in the Solicitation
Freedom, Complete Solaria and their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies of Freedom’s shareholders in connection
with the proposed business combination between Freedom and Complete
Solaria. A list of the names of such directors and executive
officers and information regarding their interests in the proposed
business combination between Freedom and Complete Solaria will be
contained in the proxy statement/prospectus pertaining to the
proposed transaction when available at www.sec.gov.
No Offer or Solicitation
This press release shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination between Freedom and
Complete Solaria. This press release shall also not constitute an
offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any
jurisdictions in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended, or an exemption therefrom.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230628095653/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
Freedom Acquisition I (NYSE:FACT)
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