Big Law
Tuscan Holdings Announces Merger with EV Battery Maker Microvast
Tuscan Holdings soared over 40% on Monday morning after the special purpose acquisition company announced it will merge with EV battery maker Microvast.
The deal values the combined company at roughly $3 billion and will leave the entity with $822 million in gross cash proceeds.
That cash includes a $540 million investment led by Oshkosh, BlackRock, Koch Strategic Platforms, and InterPrivate Capital, according to a statement.
The new company will trade in the Nasdaq under the ticker symbol “MVST.”
