What Is the Roblox IPO Price Range? THCB, Moreover, to get the market cap we add back the $350 million in cash. EarlyBirdCapital, Inc. is a member of the FINRA, NQX, MSRB, and SIPC.All securities are offered through EarlyBirdCapital, Inc. Securities Investor Protection Corporation (SIPC) insures the accounts of our clients for up to $500,000 each customer, subject to limitation of $100,000 from claims for cash balances. The company has a substantial backlog that exceeds any other EV SPAC, yet it's trading at a discount to these competitors. This is based on my estimate that just 10% of existing shareholders request a redemption. But the problem is almost always the SPAC merger issues the PIPE equity at $10.00 per share, the price of most SPAC IPOs. Microvast Inc., a maker of electric vehicle battery technology, said Monday it is going public via a merger with special purpose acquisition corporation Tuscan Holdings Corp. The deal is expected to close in the second quarter. Tuscan Holdings shares were halted premarket for the news. Copyright © 1125 N. Charles St, Baltimore, MD 21201. But there would have to be a new shareholder meeting to approve this increase in the authorized shares. 3.44. Why would the existing THCB stock shareholders agree to this? SPACs, or blank-check companies, go public without having a business, and then have two years to acquire one or more. However, there are already 27.11 million shares issued (although they could be subject to redemption if shareholders don’t approve a merger). 5.85%. It's R&D and production capabilities span battery materials, multiple battery cell chemistries, modules and packs. At the close the combined company will have a market cap of $1.11 billion and also $350 million in cash. ... Tuscan Holdings Corp. Units. This is seen by multiplying today’s price by the total authorized shares of 65 million. All rights reserved. My estimate is based on how I have seen how various special purpose acquisition companies (SPAC) mergers proceed. PAYAW. I estimate that Tuscan Holdings Corp (NASDAQ:THCB) will be worth at least 50% more than its present price. Battery maker Microvast Inc. will go public via a merger with blank-check company Tuscan Holdings Corp. in a deal that values the … Mitch McConnell among Republican votes to confirm Garland, Senate banking panel advances Biden picks for SEC and CFPB, The meme stock rollercoaster just reached new heights of volatility. As a result, the enterprise value for Microvast/THCB will be $1.25 billion to $1.5 billion (i.e., 5 and 6 times $250 million). Moreover, assuming all shareholders agree to this merger, or at least 90% of them, the private company Microvast will receive cash at the closing. In this case, the rise in THCB stock could cause problems with the final terms of the SPAC merger. Ciara Linnane is MarketWatch's investing- and corporate-news editor. However, in the first nine months of its creation, Ackman was still looking for a target company. Copyright © 2021 MarketWatch, Inc. All rights reserved. Normally the ratio will be at least five-to-six times forecast sales. I don’t think this will happen, especially since the terms will be very sensitive if the PIPE investors get to buy in at $10.00 per share. All rights reserved. On average that is a gain of 55% over today’s price. This could cause a number of institutional investors to balk at agreeing to the deal. Forget Nio and XPeng. This would mean that they have a $71 million instant profit (i.e. Battery maker Microvast Inc. will go public via a merger with blank-check company Tuscan Holdings Corp. in a deal that values the … Tax preparers give tips to help you qualify, House passes $1.9 trillion COVID relief package, clearing it for Biden to sign. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The implied market capitalization is $1.112 billion. As long as a definitive merger is announced, THCB stock will be worth at least 50% more than today. Upon closing, the combined company will be renamed Microvast Holdings Inc. and will list on Nasdaq under the new ticker symbol "MVST." quotes delayed at least 15 minutes, all others at least 20 minutes. THCB stock will be worth this much depending on several things happening in the near future. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. They have proved to be highly popular during the pandemic. Couldn’t they sell more than 37.89 million shares to a PIPE group? On the date of publication, Mark R. Hake did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. Typically both parties don’t announce a merger until a definitive, or non-binding agreement to merge has been reached. However, the financial details were not disclosed then. President Biden will sign the bill on Friday, White House press secretary Jen Psaki said. So the pro forma market capitalization will be $1.6 billion and $1.85 billion.
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