- November 28, 2020
- Posted by: Bastion team
- Category: Markets
(RTTNews) – Shares of Tuscan Holdings Corp. (THCB) are gaining over 15% on Friday morning.
THCB is currently trading at $13.28, up $1.80 or 15.68%, on the Nasdaq.
Electric batteries-maker Microvast is reportedly in advanced talks to go public through a merger with Tuscan Holdings, a special purpose acquisition company, or SPAC.
Tuscan is seeking to raise about $200 million in new equity to fund the transaction, according to reports. The combined entity would be valued about $2 billion or higher.
Early this month, Tuscan confirmed that it has signed a letter of intent merge with Microvast.
Bastion Balance Seoul, Korea.