Volkswagen-backed QuantumScape went public through a SPAC deal with Kensington Capital. The company's batteries have been integrated into almost 30,000 vehicles to date, … Electric vehicle battery maker Microvast is gearing up to go public through a reverse merger with Tuscan Holdings Corp. (THCB). 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, … more Initial Offering Date Definition Stafford, TX 77477 More From InvestorPlace Why Everyone Is Investing in … Buy or sell Microvast stock pre IPO via an EquityZen fund. 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. 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) … Request Access. Battery Maker Microvast to Go Public Via Tuscan SPAC. NYSE. Market Realist is a registered trademark. THCB stock is trading at a 57 percent premium to its IPO price of $10, with no merger announcement. Microvast’s top line could get a boost as EV adoption picks up. Even when the company and SEC publicly release the S-1 filing, we still won’t know a firm date. Should you buy THCB SPAC stock before its merger with Microvast? Powering Now. 18,750,000. Microvast’s battery solutions are … Investors willing to take some extra risk could buy THCB stock for around $15. 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. 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. Microvast｜Fast-Charging｜Electric Vehicle｜Energy Storage | Thinking Forward. Huge EV Battery manufacturer on strong growth trajectory. Founded by Yang Wu in 2006, Microvast manufactures batteries for commercial vehicles such as buses, taxis, and mining trucks. The blank-check company, led by Stephen Vogel, raised approximately $276 million … $16.00 - $19.00. Tuscan's chairman and CEO is Stephen Vogel, founder of Synergy Gas and EntreCapital Partners. Battery maker Microvast is planning to go public through a SPAC deal with Tuscan Holdings (THCB). Microvast expects to generate over $100 million of revenue this financial year. 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. Electric vehicle battery maker Microvast is gearing up to go public through a reverse merger with Tuscan Holdings Corp. (THCB). * Upcoming IPO dates are estimated and may change. It is expected to gain traction over the next ten years driven by the growing demand for electric vehicles. Representatives for Tuscan and Microvast haven't commented, according to Bloomberg. However, the IPO date typically occurs a month or two after the S-1 releases to the public. The SPAC raised about $240 million in a March 2019 IPO. People may receive compensation for some links to products and services on this website. It … Vine Energy. 18,000,000. On Feb. 1, Bloomberg reported that Tuscan is in discussions to bring Microvast public. QuantumScape has no product yet but expects to begin production in 2023. Electric buses in Auckland and Shanghai also use Microvast batteries. Nov 13, 2020 12:56PM EST. 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 … Suite 210 12603 Southwest Freeway VEI. The THCB SPAC raised about $240 million in a March 2019 IPO, selling 24 million units for $10 apiece. The combined company is set to be valued at $3 billion. According to Grand View Research, the global electric vehicle charging infrastructure market was valued at $1.16 billion in 2016. Bypassing the traditional IPO process allows investors to gain access to earlier stage, red-hot companies. The SPAC raised about … Source: Pasuwan/ShutterStock.com. THCB stock surged in premarket trading on Feb. 1 on rumors that the SPAC could take Microvast public. Microvast's investors include CDH Investments, National Venture Capital Association, and CITIC Securities. United States, Battery Maker Microvast to Go Public Via Tuscan SPAC. Is Horizon Acquisition Stock a Good Buy Amid Sportradar Merger Rumors. The company’s battery systems were used in vehicles at South Korea’s 2018 Olympic Games. Microvast, Inc. manufactures battery solutions. On Nov 13 a letter of intent (LoI) has been signed related to a business combination with Microvast Inc., a market leading provider of … Since its inception in 2006, Microvast has raised $450 million from two funding rounds. View More Companies. IPO Calendar; Short Interest ... and an oversubscribed $540 million fully committed common stock PIPE at $10 ... miles traveled on its batteries to date. The upcoming Microvast SPAC merger will bring another electric vehicle company to the public markets. Find the latest Microvision, Inc. (MVIS) stock quote, history, news and other vital information to help you with your stock trading and investing. Previously, Tuscan said that it was focusing on merging with private cannabis companies.