Microvast's investors include CDH Investments, National Venture Capital Association, and CITIC Securities. Electric vehicle battery maker Microvast is gearing up to go public through a reverse merger with Tuscan Holdings Corp. (THCB). Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. THCB stock surged in premarket trading on Feb. 1 on rumors that the SPAC could take Microvast public. The THCB SPAC raised about $240 million in a March 2019 IPO, selling 24 million units for $10 apiece. Even when the company and SEC publicly release the S-1 filing, we still won’t know a firm date. Bypassing the traditional IPO process allows investors to gain access to earlier stage, red-hot companies. Feb. 1 2021, Published 8:47 a.m. The stock had more than quadrupled its IPO price by mid-1987. Microvast provides fast charging with its lithium-ion batteries, and its systems are installed in more than 35,000 vehicles worldwide. THCB stock is trading at a 57 percent premium to its IPO price of $10, with no merger announcement. Microvast is slated to receive over $800 million in cash with the deal's closing, including a PIPE (private investment in public equity) investment of about $540 million led by Oshkosh, Koch Strategic Platforms, BlackRock, and InterPrivate. In 2017, Microvast received $400 million in a private funding round led by CITIC. The stock hit a 52-week high of $132.73 on Dec. 22 but has fallen significantly as hype over its solid-state battery died down. The SPAC raised about … In 2020, Microvast expects to have generated $100 million in revenue. In the EV (electric vehicle) and battery space, Microvast faces competition from QuantumScape, which claims that its solid-state lithium-metal batteries are the solution for future EVs. Microvast expects to generate over $100 million of revenue this financial year. Microvast Stock. Electric vehicle battery maker Microvast is gearing up to go public through a reverse merger with Tuscan Holdings Corp. (THCB). 18,750,000. Request Access. The company's batteries have been integrated into almost 30,000 vehicles to date, … Given Microvast's exposure to the market, Tuscan seems to have made a viable decision – comparing the company to other EV stocks with so many unknowns looming. The company’s 2020 price-to-sales multiple was 30x. THCB stock came public in March 2019, in a $276 million initial public offering (IPO). EquityZen is a marketplace for shares of proven pre IPO tech companies. Its technology includes a thermo-management system to protect from overheating and fires. © Copyright 2021 Market Realist. Neuralink — Recent News. * Upcoming IPO dates are estimated and may change. It was the first electric car company to be founded by Danish American car designer Henrik Fisker. Bloomberg reports that a merger could be announced on Feb. 1 if talks are successful, according to people familiar with the matter. Founded by Yang Wu in 2006, Microvast manufactures batteries for commercial vehicles such as buses, taxis, and mining trucks. Mar 18, 2021. On Jan. 29, QuantumScape stock closed at $43.75. 18,000,000. Microvast’s battery solutions are … The combined company is set to be valued at $3 billion. Battery … Find the latest Microvision, Inc. (MVIS) stock quote, history, news and other vital information to help you with your stock trading and investing. SPAC companies are this stock market's hottest trend ... Tuscan noted at the time that Microvast battery technology is already installed in over 28,000 vehicles worldwide, and that the … USABC AWARDS $4.5 MILLION CONTRACT TO MICROVAST FOR DEVELOPMENT OF LOW-COST/FAST-CHARGE BATTERIES FOR ELECTRIC VEHICLE APPLICATIONS MICROVAST WINS THE PRESTIGIOUS R&D100 AWARD Microvast collaborates with FPT Industrial to develop and offer battery power solutions through its new gigawatt factory in Ludwigsfelde The First Fast-Charging Hub Station Started Operation in Shanghai Microvast … Electric-vehicle battery maker Microvast has agreed to go public through a merger with Tuscan Holdings Corp, the blank-check company said on Friday. Since its inception in 2006, Microvast has raised $450 million from two funding rounds. Battery Maker Microvast to Go Public Via Tuscan SPAC. In early Nov. 2020, QuantumScape stock was at about $12. Electric buses in Auckland and Shanghai also use Microvast batteries. On Feb. 1, Bloomberg reported that Tuscan is in discussions to bring Microvast public. Investors willing to take some extra risk could buy THCB stock for around $15. 12603 Southwest Freeway With the automotive technology experience and capital this transaction with Tuscan is intended to provide, we … It … On Nov 13 a letter of intent (LoI) has been signed related to a business combination with Microvast Inc., a market leading provider of … Tuscan's chairman and CEO is Stephen Vogel, founder of Synergy Gas and EntreCapital Partners. The Tuscan IPO was … More From InvestorPlace Why Everyone Is Investing in … The company’s battery systems were used in vehicles at South Korea’s 2018 Olympic Games. The Company develops and delivers charge batteries for electric vehicles, as well as wide range of other applications. But don't buy on the IPO date – there's an even better time to buy DoorDash stock down the road. Offers may be subject to change without notice. If Microvast stock is a part of that, then it's worth considering. IPOE SPAC Stock Is a Good Way to Play the Fintech Space Before SoFi Merger, IPOD SPAC Is Off Its Highs, Attractive Bet for Investors, Lucid Motors Paves the Way in the EV Market, Looks Like a Buy. It could suddenly spike like $CCIV imo#SupDup. Microvast serves customers worldwide. Because Stripe is one of the world’s most valuable financial technology companies, you can be sure that the Stripe IPO date … Volkswagen-backed QuantumScape went public through a SPAC deal with Kensington Capital. Feb 1, 2021 10:53AM EST (RTTNews) - Shares of special purpose acquisition company, Tuscan Holdings Corp. (THCB) are rising more than 32% Monday morning after the EV battery maker, … Nov 13, 2020 12:56PM EST. 02/01/2021: Elon Musk says his start-up Neuralink has wired up a monkey to play video games 01/31/2021: Neuralink is Hiring (Elon Musk Tweets Robot Video – see below) … Feb 1, 2021. QuantumScape has no product yet but expects to begin production in 2023. Is Horizon Acquisition Stock a Good Buy Amid Sportradar Merger Rumors. Microvast provides next-generation battery technology for commercial and specialty electric vehicles. Market Realist is a registered trademark. Microvast｜Fast-Charging｜Electric Vehicle｜Energy Storage | Thinking Forward. Previously, Tuscan said that it was focusing on merging with private cannabis companies. Microvast’s batteries are now integrated in almost 30,000 vehicles, running in 160 cities in 19 countries, for a total of over 3.8 billion miles traveled on its batteries to date. Based on this growing demand, Chinese company Microvast … The upcoming Microvast SPAC merger will bring another electric vehicle company to the public markets. Source: Pasuwan/ShutterStock.com. Microvast, Inc. manufactures battery solutions. Battery maker Microvast is planning to go public through a SPAC deal with Tuscan Holdings (THCB). $16.00 - $19.00. more Initial Offering Date Definition Microvast’s batteries are now integrated in almost 30,000 vehicles, running in 160 cities in 19 countries, for a total of over 3.8 billion miles traveled on its batteries to date. markets. An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. However, it is also important to note that Microvast does have existing business. According to Grand View Research, the global electric vehicle charging infrastructure market was valued at $1.16 billion in 2016. $THCB ⚡️⚡️⚡️Once the merger with Microvast consumates, this will be $50+ stock someday in LT for sure. United States, Battery Maker Microvast to Go Public Via Tuscan SPAC. The blank-check company, led by Stephen Vogel, raised approximately $276 million … Powering Now. Karma Automotive: IPO, date unknown Karma Automotive has been around since 2007. Buy or sell Microvast stock pre IPO via an EquityZen fund. Here's what you need to know. Suite 210 Stafford, TX 77477 IPO Calendar; Short Interest ... and an oversubscribed $540 million fully committed common stock PIPE at $10 ... miles traveled on its batteries to date. Microvast’s batteries are now integrated in almost 30,000 vehicles, running in 160 cities in 19 countries, for a total of over 3.8 billion miles traveled on its batteries to date. Microvast’s field-proven technologies generated over $100 million in 2020 revenue, and have been deployed worldwide in nearly 30K vehicles across many EV types, with over 3.8 billion miles traveled to date. Representatives for Tuscan and Microvast haven't commented, according to Bloomberg. The Microvast SPAC merger will create a combined company … Huge EV Battery manufacturer on strong growth trajectory. While the stock’s gains have moderated since then, the much-anticipated inking of a definitive merger agreement with Microvast is likely to unlock the next substantial upward move in the … The EV craze is seeing another ops, the reverse merger of Microvast. NYSE. All Rights Reserved. Vine Energy. The Asia Pacific region dominates the market with about 50% of the market share in 2016. The stock is a speculative bet until more details of the Tuscan-Microvast merger are revealed. However, the IPO date typically occurs a month or two after the S-1 releases to the public. Should you buy THCB SPAC stock before its merger with Microvast? The stock closed at $15.66 on Jan. 29 after rising 2.4 percent that day. It is expected to gain traction over the next ten years driven by the growing demand for electric vehicles. ET. Microvast’s top line could get a boost as EV adoption picks up. View More Companies. People may receive compensation for some links to products and services on this website. The demand for EVs and batteries is likely to grow under the Biden administration. VEI. The SPAC raised about $240 million in a March 2019 IPO.
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