TMT Acquisition Corp Shareholders Approve Business Combination with eLong Power Holding Limited
2024年10月30日 - 6:00AM
TMT Acquisition Corp (Nasdaq: TMTCU, TMTC, and TMTCR) (“TMTC”), a
publicly traded special purpose acquisition company, announced at
its extraordinary general meeting earlier today, October 29, 2024,
that its shareholders voted to approve the previously announced
business combination with eLong Power Holding Limited (“eLong
Power”), a provider of high power battery technologies for
commercial and specialty vehicles and energy storage systems.
The transaction has been unanimously approved by
the Board of Directors of TMT and eLong Power. Subject to certain
contractual as well as customary closing conditions, the business
combination is expected to close in the coming weeks. As part of
the consummation of the business combination, the newly combined
public company is expected to trade on the Nasdaq Stock Market
under the symbol “ELPW”.
The business combination is expected to provide
eLong Power with access to the U.S. public equity markets, thereby
accelerating its business expansion and bolstering eLong Power’s
position to explore additional growth and value- creating
opportunities.
Advisors
The Crone Law Group P.C. is acting as U.S. legal
advisor to TMTC. Ogier Global is acting as the Cayman Islands legal
advisor to TMTC. Graubard Miller is acting as U.S. legal advisor to
eLong Power, Harneys is acting as Cayman Islands legal advisor to
eLong Power and Han Kun Law Offices is acting as China legal
advisor to eLong Power.
About eLong Power
eLong Power Holding Limited, a Cayman Islands
exempted company, is committed to the research and development,
manufacturing, sales and service of high-power lithium-ion
batteries for electric vehicles and construction machinery, as well
as large-capacity, long-cycle lithium-ion batteries for energy
storage systems. eLong Power is led by Ms. Xiaodan Liu, eLong
Power’s Chairwoman and CEO.
eLong Power has a comprehensive product and
technology system that includes battery cells, modules, system
integration, and battery management system development, based on
high-power lithium-ion batteries and battery system products for
long-cycle energy storage devices. eLong Power offers advanced
energy applications and full life cycle services. Its product
portfolio includes products utilizing lithium manganese oxide and
lithium iron phosphate, among others, to meet the needs of
high-power applications and energy storage applications in various
scenarios.
About TMT Acquisition Corp
TMT Acquisition Corp is a blank check company,
also commonly referred to as a special purpose acquisition company
(SPAC), formed for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization, or
similar business combination with one or more businesses or
entities. TMTC is led by Dajiang (“DJ”) Guo, Chairman and Chief
Executive Officer, and Jichuan Yang, Chief Financial Officer, who
are growth-oriented executives with a long track record of value
creation across industries.
Forward-looking Statements
This press release may contain “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
including statements regarding the benefits of the transaction, the
anticipated timing of the transaction, the products offered by
eLong Power and the markets in which it operates, and eLong Power’s
projected future results. These forward-looking statements
generally are identified by the words “believe,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
document, including, but not limited to: the risk that the
transaction may not be completed by TMTC’s business combination
deadline; the failure to satisfy one or more of the conditions to
the consummation of the transaction; the occurrence of any event,
change or other circumstance that could give rise to the
termination of the business combination agreement; the effect of
the announcement or pendency of the transaction on eLong Power’s
business relationships, performance, and business generally; risks
that the proposed business combination disrupts current plans or
operations of eLong Power; the outcome of any legal proceedings
that may be instituted against eLong Power or TMTC related to the
business combination agreement or the proposed business
combination; the ability of eLong Power to have its securities
listed on Nasdaq commencing on the closing of the transaction and
maintain such listing thereafter; after the closing of the
transaction, the price of eLong Power Inc.’s securities may be
volatile due to a variety of factors, including changes in the
competitive and highly regulated industries in which eLong Power
Inc. will operate, variations in performance across competitors,
changes in laws and regulations affecting eLong Power Inc.’s
business and changes in its capital structure; the ability to
implement business plans, forecasts, and other expectations after
the completion of the proposed business combination, and identify
and realize additional opportunities provided by the business
combination; its need for substantial additional funds; the
parties’ dependence on third-party suppliers; risks relating to the
results of research and development activities, market and other
conditions; its ability to attract, integrate, and retain key
personnel; risks related to its growth strategy; patent and
intellectual property matters; and the parties’ ability to obtain,
perform under and maintain financing and strategic agreements and
relationships. Accordingly, these forward-looking statements do not
constitute guarantees of future performance, and you are cautioned
not to place undue reliance on these forward-looking statements.
Risks regarding TMTC’s and eLong Power’s business are described in
detail in TMTC’s and eLong Power’s SEC filings which are available
on the SEC’s website at www.sec.gov, including in eLong Power’s
registration statement on Form F-4 (File No. 333-280512) and TMTC’s
registration statement on Form S-1 (File No. 333-259879), filed
with the SEC and updated by TMTC’s and eLong Power’s subsequent
filings with the SEC. These forward-looking statements speak only
as of the date hereof, and TMTC expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in our expectations or any changes in events, conditions, or
circumstances on which any such statement is based, except as
required by law.
eLong Power Investor
Contact:Shilin XunEmail: xunshilin@elongpower.com
TMTC Contact:Dajiang
GuoEmail: dguo@tmtacquisitioncorp.com347-627-0058
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