Tidjane Thiam, Executive Chairman of Freedom, added, “We are delighted to have merged our SPAC, Freedom Acquisition I Corp., with Complete Solaria and to see Complete Solaria set to start trading. Technological progress during the last 40 years has made solar a uniquely competitive and climate friendly source of energy. We are very excited about Complete Solaria’s growth prospects in the US where it will now be active in 49 states. In addition, the development prospects of solar in Europe, the Middle East and Africa are enormous and are expected to add to Complete Solaria’s growth over time. We believe Complete Solaria will generate strong returns for its investors as well as material benefits for society.”
Advisors
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as lead capital markets advisor to Freedom. Janney Montgomery Scott LLC acted as capital markets advisor to Freedom. Cooley LLP served as legal advisor to Complete Solaria. Paul Hastings LLP served as legal advisor to Freedom. Duff and Phelps provided a fairness opinion to the Board of Directors of Freedom in connection with the business combination with Complete Solaria.
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.
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 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) risks that the 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 business combination; (ii) the outcome of any legal proceedings that may be instituted in connection with the business combination; (iii) the ability to maintain the listing of Complete Solaria’s securities on a national securities exchange; (iv) the price of Complete Solaria’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 Complete Solaria’s business, and changes in the combined capital structure; (v) the ability to implement business plans, forecasts, and other expectations after the completion of the business combination, and identify and realize additional opportunities; (vi) the ability to recognize the anticipated benefits of the previously consummated Complete Solaria merger and the 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; (vii) the evolution of the markets in which Complete Solaria will compete; (viii) the costs related to the previously consummated Complete Solaria merger and the business combination; (ix) any impact of the COVID-19 pandemic on Complete Solaria’s business; and (x) Freedom and Complete Solaria’s expectations regarding market opportunities.
