Tuscan Holdings Corp. Announces Annual Meeting of Stockholders to be Held April 28, 2021, to Approve Extension Amendment, amo...
March 31 2021 - 7:50AM
Tuscan Holdings Corp. (Nasdaq: THCB) ("Tuscan") today
announced that it has mailed proxy materials for the Annual Meeting
of the Company’s stockholders to be held on April 28, 2021.
The proxy materials have been mailed to all holders of record as of
the close of business on the record date which was set for March
17, 2021.
In addition to the election of one Class I director, Tuscan is
asking stockholders to approve an extension proposal that will
allow the Company more time to complete its previously announced
business combination with Microvast, Inc. ("Microvast").
"Tuscan has filed the preliminary proxy statement for its
business combination with Microvast, but because the proxy
statement for the business combination was not finalized and mailed
before March 22, 2021, the Merger Agreement provides that the
Company must seek stockholder approval of an extension of time to
consummate the transaction," stated Stephen Vogel, Chairman and
CEO. "I want to thank our stockholders for their support and
patience through this process, and also to remind them that their
vote in favor of the extension proposal is very
important, no matter how many shares they own."
Approval of the Extension Amendment Proposal requires the
affirmative vote of stockholders holding at least 65% of the shares
of common stock outstanding on the record date.
You are encouraged to submit your vote as soon as possible to
ensure it is represented at the
Meeting. Please note that if your shares are
held at a brokerage firm or bank, your broker will not vote your
shares for you. You must instruct your bank or broker to cast
the vote. For assistance with voting your shares please
contact Advantage Proxy, Inc. toll free at
1-877-870-8565, collect at 1-206-870-8565 or by email
to ksmith@advantageproxy.com.
Contacts
Tuscan Holdings Corp.:Stephen VogelChairman &
CEOEmail: stephen@vpllp.com
Stockholders:Advantage Proxy, Inc.Toll Free:
877-870-8565Collect: 866-870-8565Email:
ksmith@advantageproxy.com
Media / Investors:Ashish GuptaInvestor RelationsTelephone:
646-677-1875Email: Ashish.Gupta@icrinc.com Additional
Information and Where to Find It
In connection with the annual meeting of stockholders, Tuscan
Holdings Corp., a Delaware corporation (“Tuscan”) filed a
definitive proxy statement with the SEC on March 24, 2021 (“Annual
Meeting Proxy Statement”). Additionally, in connection with the
proposed business combination transaction involving Tuscan and
Microvast, Inc. a Delaware corporation (“Microvast”), Tuscan filed
a preliminary proxy statement with the SEC on February 16, 2020 and
intends to file a definitive proxy statement (collectively, “Merger
Proxy Statement”). This document is not a substitute for the Annual
Meeting Proxy Statement or Merger Proxy Statement. INVESTORS AND
SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE
ANNUAL MEETING PROXY STATEMENT FOR MORE INFORMATION ABOUT THE
PROPOSALS TO BE BROUGHT BEFORE THE ANNUAL MEETING, TO READ THE
MERGER PROXY STATEMENT FOR MORE INFORMATION ABOUT THE PROPOSED
TRANSACTION WITH MICROVAST, AND TO READ ANY OTHER RELEVANT
DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS
ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE. The Annual Meeting Proxy
Statement and Merger Proxy Statement and other documents that may
be filed with the SEC (when they are available) can be obtained
free of charge from the SEC’s website at www.sec.gov. These
documents (when they are available) can also be obtained free of
charge from Tuscan upon written request to Tuscan at Tuscan
Holdings Corp., 135 E. 57th St., 17th Floor, New York, NY
10022.
No Offer or Solicitation
This document is not a proxy statement or solicitation of a
proxy or authorization with respect to any securities or in respect
of the proposed transactions and shall not constitute an offer to
sell or a solicitation of an offer to buy the securities of Tuscan
Holdings Corp., nor shall there be any sale of such securities in
any state or jurisdiction where such offer, solicitation, or sale
would be unlawful.
Participants in Solicitation
This communication is not a solicitation of a proxy from any
investor or securityholder. However, Tuscan and certain of its
directors and executive officers may be deemed to be participants
in the solicitation of proxies in connection with the annual
meeting of stockholders under the rules of the SEC. Information
about Tuscan’s directors and executive officers and their ownership
of Tuscan’s securities is set forth in Tuscan’s filings with the
SEC, including Tuscan’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2020, which was filed with the SEC on March
24, 2021, and the definitive proxy statement which was filed with
the SEC on March 24, 2021 and mailed to Tuscan’s stockholders on or
about March 25, 2021. When available, these documents can be
obtained free of charge from Tuscan upon written request to Tuscan
at Tuscan Holdings Corp., 135 E. 57th St., 17th Floor, New York, NY
10022.
Forward Looking Statements
This communication contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, our plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as “will likely result,” “are expected to,” “will
continue,” “is anticipated,” “estimated,” “believe,” “intend,”
“plan,” “projection,” “outlook” or words of similar meaning.
Forward-looking statements are based upon the current beliefs and
expectations of our management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements.
In addition to factors previously disclosed in Tuscan’s reports
filed with the SEC and those identified elsewhere in this
communication, the following factors, among others, could cause
actual results and the timing of events to differ materially from
the anticipated results or other expectations expressed in the
forward-looking statements: (1) failure of Tuscan’s stockholders to
approve the extension amendment proposal; (2) inability to complete
the proposed business combination with Microvast within the
required time period or, if Tuscan does not complete the proposed
business combination with Microvast, any other business
combination; (3) the inability to complete the proposed business
combination with Microvast due to the failure to meet one or more
closing conditions or the occurrence of any event, change or other
circumstances that could give rise to the termination of the
definitive agreement; and (4) the impact of the ongoing COVID-19
pandemic.
All information set forth herein speaks only as of the date
hereof, and we disclaim any intention or obligation to update any
forward-looking statements as a result of developments occurring
after the date of this communication.
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