Tuscan Holdings Corp. Announces Intent to Combine With Microvast
Tuscan Holdings Corp. Announces Intent to Combine With Microvast Inc.
("Tuscan") today confirmed that it has signed a letter of intent ("LOI") related to a business combination with Microvast Inc., a market leading provider of next-generation battery technologies for commercial and specialty use electric vehicles ("Microvast" or the "Company").
Microvast has a compelling financial profile, with significant historical revenues as well as projected growth and profitability. With its battery technology installed in over 28,000 vehicles worldwide, an impressive, growing list of global OEM customers, and a strategic partnership with Fiat Power Train Industrial
Microvast expects to generate over $100 million of revenue this financial year.
Completion of the transaction is subject to, among other things, the execution of a definitive agreement, approval by the two companies' boards, satisfaction of customary closing conditions and approval of the transaction by each company's shareholders.
Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms currently contemplated or at all.
finance.yahoo.com/news/tuscan-holdings-corp-announces-intent-172400009.html
("Tuscan") today confirmed that it has signed a letter of intent ("LOI") related to a business combination with Microvast Inc., a market leading provider of next-generation battery technologies for commercial and specialty use electric vehicles ("Microvast" or the "Company").
Microvast has a compelling financial profile, with significant historical revenues as well as projected growth and profitability. With its battery technology installed in over 28,000 vehicles worldwide, an impressive, growing list of global OEM customers, and a strategic partnership with Fiat Power Train Industrial
Microvast expects to generate over $100 million of revenue this financial year.
Completion of the transaction is subject to, among other things, the execution of a definitive agreement, approval by the two companies' boards, satisfaction of customary closing conditions and approval of the transaction by each company's shareholders.
Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms currently contemplated or at all.
finance.yahoo.com/news/tuscan-holdings-corp-announces-intent-172400009.html
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.