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Tuscan Holdings Corp. (Nasdaq: THCB) announced that stockholders approved all proposals for its business combination with Microvast Inc. at a special meeting. A Form 8-K detailing the voting results will be filed with the SEC. The closing is expected around July 23, 2021, after which the combined entity will operate as Microvast Holdings, Inc. under the ticker symbol 'MVST' and will provide $822 million in gross proceeds. Notable PIPE investors include Oshkosh Corporation and BlackRock.
Tuscan Holdings Corp. (Nasdaq: THCB) announced a special meeting for stockholders on July 21, 2021, to approve its business combination with Microvast, Inc., a battery technology provider. Only stockholders on record as of June 21, 2021, can vote. Approval requires over 50% of outstanding shares. Stockholders are urged to vote promptly, especially if shares are held through brokers. Additional details and proxy materials will be provided. Tuscan’s strategic move aims to solidify its position in the growing battery technology sector.
Microvast has been nominated by Gaussin to provide battery solutions for its next-generation skateboard truck platform, focusing on electric and hydrogen applications. This partnership will enhance logistics and transportation capabilities by integrating Microvast's advanced battery technology into Gaussin’s trucks. The companies aim to develop prototypes by mid-2021, utilizing Microvast's MV-C battery packs initially, with potential upgrades to the MV-I battery pack for improved energy density. This collaboration underscores the increasing demand for sustainable transport solutions.
Tuscan Holdings Corp. (Nasdaq: THCB) announced the filing of a revised preliminary proxy statement with the SEC regarding its proposed merger with Microvast, Inc., a provider of advanced battery technologies for vehicles. The Special Meeting for stockholder votes is set for approximately July 16, 2021, with a record date of June 21, 2021. The merger is expected to yield $822 million in gross proceeds for Microvast and will result in a new Nasdaq listing under the ticker 'MVST'. The proxy statement is pending SEC review, and no action is needed from stockholders at this time.
Tuscan Holdings Corp. (NASDAQ: THCB) received a notification from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The company has until July 26, 2021, to file this report or submit a plan for regaining compliance. If a plan is approved, Nasdaq may grant an extension of up to 180 days. The company expects to file the report before the deadline, with no immediate effect on its listing status.
Tuscan Holdings Corp. (Nasdaq:THCB) announced the approval of a proposal to extend the deadline for completing its business combination with Microvast, Inc. from April 30, 2021, to July 31, 2021. This extension was confirmed during the reconvened 2021 Annual Meeting of Stockholders. CEO Stephen Vogel expressed gratitude for shareholder support and indicated that progress is being made towards the business combination. Tuscan has filed a preliminary proxy statement with the SEC related to this transaction.
Tuscan Holdings Corp. (Nasdaq: THCB) convened its 2021 Annual Meeting to elect Amy Butte as a Class I Director and consider extending the deadline for its initial business combination from April 30, 2021, to July 31, 2021. The meeting was adjourned to May 10, 2021, due to insufficient votes for the Extension Amendment Proposal. If approved, this extension will provide more time for stockholders to vote on the proposed business combination with Microvast Inc. Shareholders are encouraged to vote before the reconvened meeting.
Tuscan Holdings Corp. (NASDAQ: THCB) urges stockholders of record as of March 17, 2021, to vote in favor of extending the business combination deadline with Microvast from April 30, 2021, to July 31, 2021, during the virtual annual meeting on April 28, 2021. Failure to secure the required votes may result in dissolution, redeeming shares at approximately $10.22 each. The Company emphasizes the critical need for stockholder participation and voting, particularly for those whose shares are held by brokerage firms that require explicit instructions to vote.
Microvast, a leader in battery technology for commercial vehicles, announced the replay of its appearance at the UBS Energy Transition Call Series on their Investor Relations website. The business combination with Tuscan Holdings Corp. (Nasdaq:THCB) is anticipated to finalize in Q2 2021, bringing $822 million in gross proceeds to Microvast. Notable PIPE investors include Oshkosh Corporation and BlackRock. Following this merger, Microvast will operate as Microvast Holdings, Inc. under the ticker symbol 'MVST'.
Tuscan Holdings Corp. (NASDAQ: THCB) is urging stockholders to vote in favor of extending the business combination deadline with Microvast from April 30, 2021, to July 31, 2021. If the vote fails, the company may dissolve, and shares will be redeemed for approximately $10.22 each. Stockholders must vote as brokers will not cast votes on their behalf. The company emphasizes the importance of receiving enough votes for the Extension Amendment to be approved, as indicated by Chairman Stephen Vogel. Additional proxy statements related to the meeting and merger are available for review.
