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TMT Acquisition Corp (symbol: TMTC) is a newly organized blank check company, also known as a special purpose acquisition company (SPAC). The primary goal of TMT Acquisition Corp is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. As a SPAC, TMTC does not have any commercial operations and exists solely for the purpose of acquiring or merging with an existing company.
TMT Acquisition Corp has been focusing on identifying businesses with significant potential for growth and value creation. The company is especially interested in sectors such as technology, media, and telecommunications, which align with the expertise of their management team. Their strategy involves rigorous analysis and due diligence to ensure that any potential target company aligns with their goals and provides substantial returns for their shareholders.
Currently, TMT Acquisition Corp is working on a proposed business combination with eLong Power, a company known for its innovative energy solutions. This combination aims to leverage the strengths of both companies to create a more robust and competitive entity in the market. Recent updates on this proposed merger can be found in their latest news section.
For investor relations, TMT Acquisition Corp provides regular updates and financial information. Interested parties can contact their investor relations officer, Dajiang Guo, for more details.
Overall, TMT Acquisition Corp is positioned strategically to capitalize on promising business opportunities and deliver value to its shareholders by focusing on high-potential industries and executing well-planned mergers and acquisitions.
For more information, investors are encouraged to stay updated through official announcements and news releases provided by TMT Acquisition Corp.
TMT Acquisition Corp (Nasdaq: TMTC) shareholders have approved the business combination with eLong Power Holding , a provider of high power battery technologies for commercial and specialty vehicles and energy storage systems. The transaction, unanimously approved by both companies' boards, is expected to close in the coming weeks. The combined entity will trade on Nasdaq under the symbol ELPW. This merger aims to provide eLong Power access to U.S. public equity markets, supporting its business expansion and growth opportunities.
TMT Acquisition Corp (Nasdaq: TMTCU, TMTC, TMTCR) announced changes to its trust account contributions and use of funds for dissolution expenses in connection with its Extension Amendment Proposal. If approved, the company's sponsor will contribute $140,000 per month as a loan for each additional one-month extension from September 30, 2024, to December 30, 2024. These contributions will be deposited in the trust account and are conditional on the proposal's implementation. The funds will not bear interest and will be repayable upon consummation of a business combination.
The proposal aims to extend the deadline for completing a business combination, allowing up to five extensions: two three-month extensions until September 30, 2024, and three one-month extensions until December 30, 2024. If approved, trust account funds will not be used for dissolution expenses. The record date for voting remains August 30, 2024, and shareholders are encouraged to vote as soon as possible.
TMT Acquisition Corp (Nasdaq: TMTCU, TMTC, TMTCR) announced the adjournment of its Extraordinary General Meeting of Shareholders originally scheduled for September 24, 2024. The meeting has been rescheduled to September 27, 2024 at 11:00 a.m. Eastern Time and will continue to be held virtually. The adjournment aims to solicit additional votes on matters outlined in the meeting notice and proxy statement.
Only shareholders of record as of August 30, 2024 (the Record Date) are eligible to vote. Previously submitted proxies will remain valid for the adjourned meeting unless properly revoked. Shareholders who have already voted do not need to take further action.
TMT Acquisition Corp (TMTC) announced that its merger partner, eLong Power Holding , has secured an RMB80 million (approximately US$11 million) purchase order for an energy storage system. This order follows an earlier RMB480 million (approximately US$66 million) order in Q2 2024. The new energy storage system is intended for intelligent charging robots in Beijing, with delivery slated for the end of 2024. eLong Power, known for its high-power battery technologies, aims to become a leader in large-scale energy storage systems. The business combination between TMTC and eLong Power is anticipated to close in the second half of 2024, enabling eLong Power to access U.S. public equity markets. This transaction is expected to accelerate eLong Power's business expansion.
TMT Acquisition Corp (TMTC) and eLong Power Holding have announced a significant business development. eLong Power secured a RMB480 million (approx. US$66 million) purchase order for a 600MWh lithium battery energy storage system, scheduled for delivery by October 31, 2024. This marks eLong Power’s first major sales contract in the large-scale energy storage market.
The deal includes a 30% advance payment, a 60% payment upon delivery and installation, and a 10% balance after a year of quality assurance. The merger between TMTC and eLong Power, anticipated to close in the second half of 2024, aims to give eLong Power access to U.S. public equity markets and accelerate its business growth.
The global electrochemical energy storage market is expected to grow from 69GWh in 2022 to 652GWh in 2027, driven by renewable energy adoption and favorable policies. eLong Power’s advanced battery technologies and significant orders position it favorably in this expanding market.
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