Koch Industries and Oshkosh are backing a $540m private placement supporting the merger between advanced battery maker Microvast and a special purpose acquisition company.
US-based battery technology provider Microvast completed a reverse merger on Monday backed by $540m private investment in public equity (PIPE) financing from investors including chemical group Koch Industries and truck maker Oshkosh.
The company is merging with Tuscan Holdings Corp, a special purpose acquisition company that floated on the Nasdaq Capital Market in a $150m initial public offering in July 2019.
The PIPE featured Koch subsidiary Koch Strategic Platforms, Oshkosh, InterPrivate Investment Partners and funds and accounts managed by…
