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Created: 07/26/2021 11:54:11 AM - Followers: 11 - Board type: Free - Posts Today: 0

HOUSTON, TX – July 26, 2021 – Microvast, Inc. (“Microvast” or the “Company”), a leading global provider of next-generation battery technologies for commercial and specialty vehicles, today announced that it has completed its previously announced business combination with Tuscan Holdings Corp. (Nasdaq: THCB) (“Tuscan”). The business combination was approved at a special meeting of stockholders on July 21, 2021, resulting in the combined company being renamed “Microvast Holdings, Inc.”, with its common stock and warrants to commence trading on the Nasdaq on July 26, 2021 under the ticker symbols “MVST” and “MVSTW”.

 

Upon closing, the combined company received approximately $822 million in cash, comprised of approximately $282 million in cash held in trust by Tuscan and the proceeds of a $540 million PIPE from leading institutional investors including strategic partner Oshkosh Corporation as well as funds and accounts managed by BlackRock, Koch Strategic Platforms and InterPrivate Investment Partners. At closing, approximately 99.7% of funds remained in Tuscan’s trust account.

 

“The talented Microvast team developed our disruptive battery technology to revolutionize the way that we travel and help advance a greener, more electric future,” said Yang Wu, Microvast’s Founder, CEO, and President. “Becoming a public company not only validates the power of our next generation battery solutions, which provide our commercial vehicle operator customers with accelerated charging times, extended life cycles, and enhanced safety performance, but also the potential of our opportunity in a large and rapidly growing commercial Electric Vehicle market buoyed by a global shift to electrification. As a public company, we are poised to leverage our increased financial resources to develop and deploy our battery solutions in partnership with a suite of market-leading customers across the world. I want to thank the Microvast team for their commitment to our continued growth as we work to advance the mass adoption of commercial electric vehicles.”

 

Microvast, founded in Houston in 2006, develops disruptive battery technologies designed specifically for commercial electric vehicles (EVs) that feature best-in-class fast-charging capabilities, high energy density, significantly longer cycle life and proven safety performance. Powered by a proprietary intellectual property portfolio, Microvast’s battery solutions are significantly more stable under heat than traditional poly-ethylene separators and demonstrate improved thermal stability in the battery cell. Highly modular and vertically integrated, Microvast’s standard battery packs can utilize a wide variety of cell chemistries, providing great flexibility in vehicle design and applications to the Company’s broad range of potential commercial vehicle customers, including light, medium and heavy-duty trucks, vans, buses, trains, automated guided vehicles, port equipment and mining trucks. Microvast’s batteries are now integrated in almost 30,000 vehicles, running in 160 cities in 19 countries, for a total of over 3.8 billion miles traveled on its batteries to date.


https://microvast.com
 

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#49
An analyst gave a price target of 8$ steph1971 08/19/2022 06:37:00 AM
#48
Wow! After hours went crazy! I wonder what Healthy Guy 08/18/2022 09:11:21 PM
#47
Microvast vs Kandi https://investorplace.com/2021/12/kndi-stock-the-lfp-batteries-news-charging-up-k BottomBounce 12/29/2021 01:52:12 PM
#46
GREAT NEWS Jack Torrance 12/19/2021 10:56:50 AM
#45
Hoping for a run here jan - March MADDSTACKER 12/17/2021 01:37:41 PM
#44
BOMBSHELL !!! Jack Torrance 11/26/2021 02:24:48 AM
#43
I like this company. Got in yesterday Shares/ Warrants Gadzeno 11/19/2021 02:09:08 PM
#42
8.80 https://microvast.com/ barnyarddog 11/19/2021 01:20:53 PM
#41 Quantumscape vs Microvast Jack Torrance 09/19/2021 11:46:27 PM
#40 8-21 day chart showing short term buy break out jsc52033 09/09/2021 04:47:30 PM
#39 The surge was a buying pump and dump Jack Torrance 08/24/2021 02:04:01 AM
#38 Surprisingly the price action rose almost 100% in blackhawks12 08/23/2021 07:28:11 PM
#37 Just broke past the $8.61 wall triloinc 08/20/2021 03:15:43 PM
#36 Bullshit price target in an attempt to drive Jack Torrance 08/18/2021 06:25:15 AM
#35 Hi guys ! Cash1972 08/18/2021 06:08:25 AM
#34 600 mvst dec 15$ calls, 300 Sept 15$ Xl175 08/13/2021 05:15:50 PM
#33 Today's low was a good-buy,hope you were still Euripides90 08/12/2021 03:58:02 PM
#32 I’ve been buying loading 100 as it dips triloinc 08/11/2021 11:38:33 AM
#31 Pos Expensivetaste281 08/11/2021 11:30:47 AM
#30 More volume today then yesterday. At higher prices. Hmm. steph1971 08/10/2021 11:00:23 AM
#29 It’s becoming more obvious by the minute that Jack Torrance 08/10/2021 12:33:36 AM
#28 My take is this: jerrybrockman 08/09/2021 08:39:19 PM
#27 Come on baby get back over $20 MADDSTACKER 08/09/2021 01:13:42 PM
#26 Just jumped 40 cents in about 15 seconds!!! Jack Torrance 08/09/2021 09:47:17 AM
#25 Hey I am trying to get much more Mmart 08/09/2021 02:37:14 AM
#24 I started my position on April when it Xl175 08/09/2021 12:14:07 AM
#23 600 December $15 calls here. That’s $60,000 per Xl175 08/09/2021 12:11:03 AM
#22 I hope you're right! The way this SPAC Jack Torrance 08/07/2021 11:31:47 PM
#21 And who knows w the squeeze later steph1971 08/07/2021 11:29:19 PM
#20 Not sure.. because the price was so low, steph1971 08/07/2021 11:28:18 PM
#19 Delayed reaction on this one. Whales and firms Jack Torrance 08/07/2021 10:01:29 PM
#18 Would be nice I’m still holding my $20s MADDSTACKER 08/07/2021 11:11:50 AM
#17 This will run past $20 amonoy1992 08/06/2021 08:52:43 AM
#16 Today could be fun. Squeeze…but w a company steph1971 08/06/2021 08:38:29 AM
#15 Squeeze MADDSTACKER 08/06/2021 08:31:14 AM
#14 BMW and several other car manufacturers developing in codfather 08/05/2021 03:52:20 PM
#13 What public company is on the for steph1971 08/05/2021 03:50:15 PM
#12 Electric will be a short term fade the codfather 08/05/2021 03:48:28 PM
#11 When I say electric vehicles are the future, steph1971 08/04/2021 08:38:38 PM
#10 Good stuff. And those figures are likely way Jack Torrance 07/31/2021 09:43:45 PM
#9 https://youth-investment-group.com/2021/07/28/microvast-stock-forecast-6-8-billi steph1971 07/31/2021 09:06:31 AM
#8 things looking up were are up over 15% jsc52033 07/30/2021 01:55:46 PM
#7 Another 100 m deal … let’s gooo MADDSTACKER 07/29/2021 08:19:31 AM
#6 hope you are right jsc52033 07/28/2021 11:36:42 AM
#5 There is not going to be any quick Jack Torrance 07/27/2021 09:42:57 PM
#4 Solid assessment. I bought some shares yesterday and blackhawks12 07/27/2021 09:00:31 PM
#3 I think a lot of PIPE and retail Jack Torrance 07/27/2021 07:48:44 PM
#2 https://microvast.com/ blulotus 07/26/2021 07:17:26 PM
#1 what doesn't the market like about this company? jsc52033 07/26/2021 01:57:05 PM
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