Microvast begins trading on Nasdaq
By Bradley Osborne - 2nd August 2021
USA – Texas-based battery manufacturer, Microvast Inc of Houston, Texas, has completed a business combination with Tuscan Holdings Corp, a ‘blank cheque’ special-purpose acquisition company, and began trading on the Nasdaq stock exchange on 26 July 2021 under its new name, Microvast Holdings Inc (ticker symbol “MVST”).
The combined company received approximately USD822m in cash following the closure of the business combination. USD282m was held in trust by Tuscan, while USD540m came from private investment in public equity, sourced from investors such as strategic partner Oshkosh Corporation, a manufacturer of specialty trucks in Wisconsin.
