Microvast, a global provider of next-generation battery technologies for commercial and specialty vehicles, and Tuscan Holdings announced today that they have entered into a definitive merger agreement.
The transaction provides up to $822 million in gross cash proceeds to the combined company, including $282 million in cash held by Tuscan in trust, assuming no redemptions, and an oversubscribed $540 million fully committed common stock PIPE at $10 per share. Read more.
