Complete Solaria Appoints Industry Veteran Brian Wuebbels as Chief Financial Officer

Rhea-AI Summary

Complete Solaria, a solar technology and installation firm, has appointed Brian Wuebbels as Chief Financial Officer, effective February 1, 2023. With over 20 years of experience in financial leadership within the solar and industrial sectors, Wuebbels is expected to contribute significantly to the company's growth, particularly as it prepares for its upcoming business combination with Freedom Acquisition I Corporation (NYSE: FACT). This transition follows the tenure of Albert Luu, who will continue to advise during this period. An Investor & Analyst Day is scheduled for February 13, 2023, where future strategies will be outlined.

Positive

• Appointment of Brian Wuebbels as CFO expected to strengthen financial leadership.
• Wuebbels brings extensive experience in public and private solar companies.
• Upcoming Investor & Analyst Day on February 13, 2023, may boost investor confidence.

Negative

• Transition period may cause temporary disruption in financial operations.
• Success of business combination with Freedom is contingent on shareholder approval.

SAN RAMON, Calif.--(BUSINESS WIRE)-- Complete Solaria, Inc. (“Complete Solaria” or the “Company”), a leading solar technology, services, and installation company, today announced that Brian Wuebbels has been named Chief Financial Officer, effective February 1, 2023. Wuebbels brings more than 20 years of financial and executive experience, having served as CFO and in senior leadership positions for public and private solar and industrial companies throughout his career, including companies such NIDEC, GCL Solar Materials, SunEdison, Honeywell, and General Electric.

“I am pleased to welcome Brian to our leadership team,” said Will Anderson, Complete Solaria CEO. “Brian’s deep and extensive public and private company experience across the broader solar and industrial sectors position him to immediately add value to our organization. On behalf of the entire Complete Solaria team, I look forward to working closely with Brian as we deliver strong financial performance and increase value for our shareholders.”

“I am honored to join Complete Solaria at this pivotal time in the company’s growth trajectory, as it transitions toward life as a public company,” said Wuebbels. “I have closely watched the company’s evolution, and I look forward to playing a key role in expanding solar and its role in the transition to clean energy.”

Wuebbels succeeds Albert Luu, who will work as an advisor to Complete Solaria during the transition period.

Complete Solaria Investor & Analyst Day

Complete Solaria and Freedom Acquisition I Corporation (“Freedom”) (NYSE: FACT) will be holding an Investor & Analyst Day on February 13, 2023 at 11:00am EST. The leadership team from Complete Solaria and Freedom, including Brian Wuebbels, will present an overview of the Company’s operations and strategy plan, followed by a live question and answer session. Interested parties can register by clicking here.

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 fulfillment, 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 existence. To learn more, visit: www.completesolaria.com/investors.

Complete Solaria announced on October 3, 2022, an agreement for a business combination with Freedom (NYSE: FACT). The business combination is expected to close 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.

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.

Important Information and Where to Find It

This press release relates to proposed transactions involving Complete Solaria and Freedom. Freedom intends to file a registration statement (“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. The proxy statement will be mailed to shareholders as of a record date to be 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 the Registration Statement, proxy statement, prospectus and other documents containing important information about Freedom and Complete Solaria once such documents are filed 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.

Forward Looking Statements

This communication 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 documents filed by Freedom from time to time with the SEC, including the Registration Statement, when available. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005632/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

Source: Freedom Acquisition I Corp

FAQ

What impact does Brian Wuebbels' appointment as CFO have on Complete Solaria?

Brian Wuebbels' extensive experience in the solar sector is expected to enhance Complete Solaria's financial management and strategic growth as the company prepares for its business combination with Freedom Acquisition I Corp.

When is the Investor & Analyst Day for Complete Solaria and Freedom Acquisition I Corp?

The Investor & Analyst Day is scheduled for February 13, 2023, at 11:00 AM EST.

What are the prospects for Complete Solaria following its merger with Freedom Acquisition I Corp?

The merger is expected to provide Complete Solaria with enhanced operational capabilities and market reach, subject to shareholder approval and successful execution of the business combination.

Who is replacing Albert Luu as CFO of Complete Solaria?

Brian Wuebbels has been named the new CFO, succeeding Albert Luu, who will transition to an advisory role.

What should investors watch for regarding the proposed business combination with Freedom Acquisition I Corp?

Investors should monitor the shareholder approval process and the effectiveness of the merger, which will be vital for Complete Solaria's future growth and operational strategy.