Hyperdrive
Microvast in Talks to Go Public Via Tuscan SPAC Merger
- Tuscan is seeking to raise about $200 million in new equity
- A deal would value combined entity at about $2 billion or more
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Microvast, a maker of electric batteries, is in advanced talks to go public through a merger with the blank-check company Tuscan Holdings Corp., according to people with knowledge of the matter.
Tuscan, a special purpose acquisition company, or SPAC, is seeking to raise about $200 million in new equity to fund the transaction, said the people, who asked not to identified because the talks are private. The transaction would value the combined entity at about $2 billion or higher, the people said.