Certain Warrants of Quanergy Systems, Inc. are subject to a Lock-Up Agreement Ending on 27-JAN-2023. These Warrants will be under lockup for 89 days starting from 30-OCT-2022 to 27-JAN-2023.

Details:
Company's directors and officers shall enter into customary “lock-up” agreements in favor of Maxim pursuant to which such persons and entities shall agree, for a period of 90 days after the effective date of the registration statement related to this offering, that they shall neither offer, issue, sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of any of securities without Maxim's prior written consent, including the issuance of shares of common stock upon the exercise of currently outstanding convertible securities.