NYSE Regulation reached its decision to delist these securities pursuant to Section 802.01B of the NYSE’s Listed Company Manual because the Company had fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalisation over a consecutive 30 trading day period of at least $15,000,000.

At the time of the original de-listing on November 8th, Quanergy released a statement saying that it would not be appealing the decision and it was anticipated that the company's common stock and the warrants would be traded in the over-the-counter (“OTC”) market commencing on November 9, 2022. The common stock will retain its ticker symbol (QNGY). 

However, a later statement from Quanergy on November 10th now confirms that the company plans to appeal the decision by the staff of NYSE Regulation to a Committee of the Board of Directors of the NYSE, in accordance with Section 804.00 of the NYSE’s Listed Company Manual.