Feb. 1 2021, Published 8:47 a.m. The Company develops and delivers charge batteries for electric vehicles, as well as wide range of other applications. In 2017, Microvast received $400 million in a private funding round led by CITIC. Huge EV Battery manufacturer on strong growth trajectory. The Tuscan IPO was … Suite 210 THCB stock surged in premarket trading on Feb. 1 on rumors that the SPAC could take Microvast public. ET. THCB stock came public in March 2019, in a $276 million initial public offering (IPO). Since its inception in 2006, Microvast has raised $450 million from two funding rounds. The combined company is set to be valued at $3 billion. On Jan. 29, QuantumScape stock closed at $43.75. Offers may be subject to change without notice. Founded by Yang Wu in 2006, Microvast manufactures batteries for commercial vehicles such as buses, taxis, and mining trucks. 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, … QuantumScape has no product yet but expects to begin production in 2023. Electric-vehicle battery maker Microvast has agreed to go public through a merger with Tuscan Holdings Corp, the blank-check company said on Friday. The SPAC raised about … 18,000,000. © Copyright 2021 Market Realist. The upcoming Microvast SPAC merger will bring another electric vehicle company to the public markets. Electric vehicle battery maker Microvast is gearing up to go public through a reverse merger with Tuscan Holdings Corp. (THCB). Its technology includes a thermo-management system to protect from overheating and fires. More From InvestorPlace Why Everyone Is Investing in … Here's what you need to know. It is expected to gain traction over the next ten years driven by the growing demand for electric vehicles. It was the first electric car company to be founded by Danish American car designer Henrik Fisker. Mar 18, 2021. Powering Now. Bloomberg reports that a merger could be announced on Feb. 1 if talks are successful, according to people familiar with the matter. Tuscan's chairman and CEO is Stephen Vogel, founder of Synergy Gas and EntreCapital Partners. The EV craze is seeing another ops, the reverse merger of Microvast. IPO Calendar; Short Interest ... and an oversubscribed $540 million fully committed common stock PIPE at $10 ... miles traveled on its batteries to date. Vine Energy. $THCB ⚡️⚡️⚡️Once the merger with Microvast consumates, this will be $50+ stock someday in LT for sure. Battery maker Microvast is planning to go public through a SPAC deal with Tuscan Holdings (THCB). The stock had more than quadrupled its IPO price by mid-1987. People may receive compensation for some links to products and services on this website. 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). 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. 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) … All Rights Reserved. Karma Automotive: IPO, date unknown Karma Automotive has been around since 2007. On Feb. 1, Bloomberg reported that Tuscan is in discussions to bring Microvast public. The company’s 2020 price-to-sales multiple was 30x. more Initial Offering Date Definition Because Stripe is one of the world’s most valuable financial technology companies, you can be sure that the Stripe IPO date … The company’s battery systems were used in vehicles at South Korea’s 2018 Olympic Games. Bypassing the traditional IPO process allows investors to gain access to earlier stage, red-hot 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. Even when the company and SEC publicly release the S-1 filing, we still won’t know a firm date. The blank-check company, led by Stephen Vogel, raised approximately $276 million … 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 … Microvast expects to generate over $100 million of revenue this financial year. According to Grand View Research, the global electric vehicle charging infrastructure market was valued at $1.16 billion in 2016. 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 … Battery Maker Microvast to Go Public Via Tuscan SPAC. THCB stock is trading at a 57 percent premium to its IPO price of $10, with no merger announcement. Previously, Tuscan said that it was focusing on merging with private cannabis companies. An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. 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. Microvast serves customers worldwide. The Asia Pacific region dominates the market with about 50% of the market share in 2016. Microvast provides next-generation battery technology for commercial and specialty electric vehicles. Stafford, TX 77477 The demand for EVs and batteries is likely to grow under the Biden administration. The Microvast SPAC merger will create a combined company … $16.00 - $19.00. Nov 13, 2020 12:56PM EST. Microvast｜Fast-Charging｜Electric Vehicle｜Energy Storage | Thinking Forward. United States, Battery Maker Microvast to Go Public Via Tuscan SPAC. Microvast’s battery solutions are … Microvast, Inc. manufactures battery solutions.