It was recently that Tuscan Holdings Corp II (NASDAQ: THCA) spoke about its anticipated merger with Microvast Inc. There seems to be a significant likelihood of the two signing the deal, and that follows the move by stockholders to approve all the proposals linked to the business combination. This company discloses that the shareholders had attended a special meeting at the time of voting.
The filing of the Form 8-K
Tuscan Holdings Corp continues making plans to file its Form 8-K with the Securities and Exchange Commission. The document in question bears the full voting results. Tuscan Holdings Corp and Microvast Inc might complete their business combination on or about July 23, 2021.
The merger opens a new chapter for the two, considering that they will be known by the common name Microvast Holdings, Inc. The other exciting aspect has to do with the combined company trading on the Nasdaq Stock Market. Reports show the ticker symbol to be adopted being “MVST.”
Analysts project that the new business combination will pull along with numerous benefits, one of which is providing about $822 million of gross proceeds to Microvast.
Microvast has been focusing on the manufacture of next-generation battery technologies for specialty and commercial vehicles. It seems pretty excited about its business combination with Tuscan Holdings Corp, leading to the renaming to “Microvast Holdings, Inc..” Reports show that tier warrants and common stock might start trading on the Nasdaq in July, as mentioned earlier.
Yang Wu’s perspective
The Microvast’s Founder and CEO, Yang Wu, applauds the Microvast team for its efforts and talent. He believes that the team has achieved a lot in revolutionizing technology and advancing a greener, more electric future.
He opines, “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.”