Camel Bay, LLC acquired 20.9% stake in Battery Future Acquisition Corp. (NYSE:BFAC) from Battery Future Sponsor LLC and Pala Investments Limited on January 16, 2024. Pursuant to the share purchase agreement, Battery Future Sponsor LLC and Pala Investments transferred to Camel Bay an aggregate of 4,193,695 Class B Ordinary Shares of Battery Future Acquisition Corp. in connection with the execution of the purchase agreement, effective immediately, the following officers and directors submitted the resignation of their respective offices: Greg Martyr as Chief Executive Officer and director, Kris Salinger as Chief Financial Officer and director, Josh Payne as Chief Operating Officer, Nick O?Loughlin as Chief Development Officer and each of Simon Hay, Jessica Fung, Erez Ichilov, Natalia Streltsova and Adrian Griffin as directors of Battery Future Acquisition Corp. Weiyi Zheng was appointed as Chief Executive Officer and Chairman of the Board and each of Hao Tian, Zixun Jin and Shengming Shi as independent directors of the Company. The closing of the transaction is conditional upon Battery Future Acquisition Corp and Warrant Holder terminating the private placement warrants on or prior to the closing. Kyle S. Gann of Winston & Strawn LLP acted as legal advisor to Battery Future Sponsor LLC and Pala Investments Limited. David Alan Miller and Jeffrey M. Gallant of Graubard Miller acted as legal advisor to Camel Bay.

Camel Bay, LLC completed the acquisition of 20.9% stake in Battery Future Acquisition Corp. (NYSE:BFAC) from Battery Future Sponsor LLC and Pala Investments Limited on January 16, 2024.