Tuscan Holdings said it has signed a letter of intent for a merger with Microvast, a provider of battery technologies for commercial and specialty use electric vehicles. Tuscan raised $240 million in its IPO last year. Microvast said it is on target to generate $100 million in revenue this year. Tuscan in a proxy filing said it has set a Dec. 3 meeting for shareholders to vote on extending the SPAC’s merger deadline from Dec. 7 to April 30. Read more.
Tuscan Inks LOI With Microvast
