Microvast and Tuscan Holdings Corp. (THCB) Have Reportedly Finalized a Definitive Merger Agreement as Last Week’s Development All but Guaranteed This Outcome Feb 1, 2021 03:38 EST
Microvast, a leading provider of next-generation battery technologies for commercial and specialty-use electric vehicles, has apparently ended the reigning uncertainty regarding its proposed merger with the Special Purpose Acquisition Company (SPAC), Tuscan Holdings Corp. (NASDAQ:THCB).
As per the reporting by Bloomberg, Microvast and Tuscan Holdings have now signed a Definitive Agreement (DA) to merge. The combined company is expected to be worth around $3 billion and will retain access to over $800 million in cash. This arrangement also involves a cash injection of $540 million in the form of PIPE investment from Oshkosh Corp., BlackRock Inc., Koch Strategic Platforms, and InterPrivate. Readers should note that InterPrivate also has its own SPAC – InterPrivate Acquisition Corp. (NYSE:IPV) –
Over the last decade, the BVI has established itself as a major international financial centre. In doing so it has increasingly played an integral role in the global economy as a key facilitator with BVI incorporated companies, frequently used for cross border investment and joint ventures.
Much of this success rests on the BVI’s social and political stability, as well as important incentives such as tax neutrality, an agile corporate framework and low administrative costs. All of these factors come together to provide businesses with the most optimal environment for growth. Nevertheless, it is arguably the BVI’s track record of compliance with international standards and the strong reputation of its financial services that truly elevates the jurisdiction above other competitors.
You have successfully joined our subscriber list.
SPAC IPOs have their detractors and supporters. To better understand what SPACs can offer to you as an investor, read this guide.
A special purpose acquisition company is the result of combining venture capitals and equity investments. Markets from the United States launched this instrument in 2003. The creation of SPACs allowed mid-market investors to support experienced managers so they could give entrepreneurs alternative means to secure capital and financial development combined with private capital, of course.
At the same time, the rapid growth of hedge funds, managed assets combined with the lack of compelling returns available in traditional asset classes led institutional investors to popularize the structure of SPACs given their relatively attractive risk-reward profile. By 2007, SPACs already accounted for 27 % of Initial Point Offerings on US exchanges, reaching European markets shortly thanks to their increasing popular
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Growth Capital Acquisition Corp. Announces Pricing of Upsized $150 Million Initial Public Offering
Growth Capital Acquisition Corp.January 29, 2021 GMT
ATHENS, Greece, Jan. 29, 2021 (GLOBE NEWSWIRE) Growth Capital Acquisition Corp. (NASDAQ: GCACU) (“Growth Capital” or the “Company”) today announced the pricing of its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units are expected to begin trading on the Nasdaq Capital Market (“Nasdaq”) on January 29, 2021 under the symbol “GCACU”. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and
socaltech.com
Los Angeles-based electric vehicle developer
Faraday Future is joining the rush to public markets through a Special Purpose Acquisition Company (SPAC), saying this morning that it plans to list on the NASDAQ through a merger with
Property Solutions Acquisition Corp.. The company said the planned merger with PSAC (which currently trades on the NASDAQ as PSAC) would provide it with an estimated $1 billion in gross proceeds. The company said the deal is expected to fully fund the production of its FF91 luxury electric vehicle, as well as future development. Faraday Future says PSAC currently has $230M in cash, and that it is in the midst of a $775M PIPE (private investment in public entity) transaction. The company says the equity value of the deal is approximately $3.4 billion. The newly combined company plans to trade under a new ticker symbol, FFIE, and will be renamed