https://wccftech.com/microvast-and-tuscan-holdings-corp-thcb-have-reportedly-finalized-a-definitive-merger-agreement-as-last-weeks-development-all-but-guaranteed-this-outcome/

Microvast, a leading provider of next-generation battery technologies for commercial and specialty-use electric vehicles, has apparently ended the reigning uncertainty regarding its proposed merger with the Special Purpose Acquisition Company (SPAC), Tuscan Holdings Corp. (NASDAQ:THCB).

As per the reporting by Bloomberg, Microvast and Tuscan Holdings have now signed a Definitive Agreement (DA) to merge. The combined company is expected to be worth around $3 billion and will retain access to over $800 million in cash. This arrangement also involves a cash injection of $540 million in the form of PIPE investment from Oshkosh Corp., BlackRock Inc., Koch Strategic Platforms, and InterPrivate. Readers should note that InterPrivate also has its own SPAC – InterPrivate Acquisition Corp. (NYSE:IPV) – that is slated to merge with the lidar manufacturer Aeva.