TMT Acquisition Corp - TMTC STOCK NEWS

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.

TMT Acquisition Corp (TMTC) announces the permanent adjournment of the Extraordinary General Meeting to vote on the Extension Amendment Proposal, allowing for up to seven deadline extensions for a business combination. Shareholders tendered public shares for redemption.

TMT Acquisition Corp (TMTC) adjourns Extraordinary General Meeting to solicit additional votes, to be held virtually on March 28, 2024. Shareholders of record as of February 22, 2024, entitled to vote.

TMT Acquisition Corp (Nasdaq: TMTCU, TMTC, and TMTCR) adjourned its Extraordinary General Meeting of Shareholders to March 22, 2024, to gather more votes on listed matters. Shareholders as of February 22, 2024, are eligible to vote virtually or by proxy.

TMT Acquisition Corp (NASDAQ: TMTCU) and eLong Power Holding Limited have entered into a definitive business combination agreement. eLong Power, the operating entity of the combined company, develops battery technologies for commercial and specialty vehicles and energy storage systems. The transaction is expected to close in the first half of 2024, resulting in eLong Power becoming a publicly traded company named eLong Power Inc on the Nasdaq Stock Exchange.