The closing of the transaction is subject, among other things, to the conclusion of a definitive agreement, the approval of the boards of directors of both companies, the satisfaction of customary closing conditions and the approval of the shareholders of both companies. Therefore, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be completed on the terms currently contemplated or not at all. The craze for electric vehicles sees another operation, the reverse merger of Microvast. On November 13, a letter of intent was signed as part of a business combination with Microvast Inc., a market-leading provider of next-generation battery technologies for commercial and specialty electric vehicles. The approval of the extension was only recently adopted on 3.12. If history is any indication of this, the final deal will come out within 2 weeks of the event. The company is valued at over $2 billion and the stock is still at a very low price. The disclosure contained herein does not constitute a proxy circular, proxy solicitation, consent or approval with respect to any security or with respect to the potential transaction, or an offer to sell or a solicitation of an offer to buy the securities of Tuscan, and there will be no sale of such securities in any state or jurisdiction; in which such an offer would constitute a solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. An offer of securities may only be made by means of a final document.
The following list contains all companies with which merger agreements have been entered into and that would consider (or have considered) a merger with a PSPC, as well as all companies that have entered into mergers with PSPC since 2019. There are also a handful of the largest merger partners that continue to decline. Certain statements in this press release are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. When the words “estimate”, “project”, “expect”, “anticipate”, “anticipate”, “plan”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “propose” and variations of such words or similar expressions (or negative versions of such words or expressions) are used in this press release, they are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond Tuscan`s control and could cause actual results to differ materially from those described in the forward-looking statements. Tuscan assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. If a legally binding definitive agreement is entered into, a full description of the terms of the transaction will be provided in a registration statement and/or proxy circular from Tuscan (the “Transaction Proxy Statement”) filed with the U.S.
Securities and Exchange Commission (the “SEC”). Tuscan encourages investors, shareholders and other interested parties to read the preliminary proxy statement for the transaction and other documents filed with the SEC, if any, as such documents will contain important information about Tuscan, Microvast and the transaction. Microvast, Inc., a global leader in next-generation battery technologies for commercial and specialty vehicles (“Microvast” or the “Company”) and Tuscan Holdings Corp. .