Microvast — Li-ion battery systems for EVs and energy storage (ultra-fast charging, high cycle life)
Microvast (Houston, TX) completed business combination with Tuscan Holdings Corp. Stockholder vote July 21, 2021; closed July 23, 2021. NASDAQ listing as MVST July 26, 2021. ~$822M cash incl. $282M trust + $540M PIPE. Strategic partner Oshkosh Corp anchored. Pro forma equity $3B. Microvast operates battery cell production capabilities in China and US.
$3.00B
Deal Value
Storage
Technology
TX
Location
Deal Details
- Deal Type
- SPAC Merger
- Seller / Sponsor
- Microvast Inc.
- Buyer / Financier
- Tuscan Holdings Corp.
- Deal Value
- $3B (pro forma equity)
- Stage
- Operating
- ISO/RTO
- ERCOT
- Source
- DealFlow SPAC News
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