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- It is important that you vote your shares today.<\/i><\/li>\n<\/ul>\n
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- If the Extension Amendment Proposal is not approved by the requisite vote, stockholders will not have the opportunity to vote on the business combination with Microvast, Tuscan may need to be dissolved and in such event your shares would be redeemed for approximately $10.22 per share. <\/i><\/li>\n<\/ul>\n
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- Leading independent voting advisory firms Institutional Shareholder Services and Glass Lewis have recommended stockholders vote “FOR” the extension amendment.<\/i><\/li>\n<\/ul>\n
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- If you need assistance voting your shares, please contact Advantage Proxy, Inc., Tuscan Holdings\u2019 proxy solicitor, toll-free at 1-877-870-8565, collect at 1-206-870-8565 or by email to ksmith@advantageproxy.com<\/a><\/i><\/li>\n<\/ul>\n
NEW YORK–(BUSINESS WIRE<\/a>)–
\nTuscan Holdings Corp. (NASDAQ: THCB) (\u201cTuscan\u201d or the \u201cCompany\u201d) urges stockholders of record on March 17, 2021 to vote in favor of the proposal to extend the date by which the Company has to consummate its business combination with Microvast from April 30, 2021 to July 31, 2021 (the \u201cExtension Amendment\u201d) at its annual meeting of stockholders to be held virtually at https:\/\/www.cstproxy.com\/tuscanholdingscorp\/2021<\/a> on April 28, 2021 at 10:00 am Eastern Time.\n<\/p>\n\nIf the requisite vote is not received in favor of the Extension Amendment Proposal, stockholders will not have the opportunity to vote on the business combination with Microvast and Tuscan may need to dissolve. In such event, your shares are expected to be redeemed for approximately $10.22 per share.\n<\/p>\n
\nAny shares purchased in the open market by the Company\u2019s sponsor, management or their related entities after March 17, 2021 cannot be voted at the annual meeting and as a result, cannot affect whether the Extension Amendment is approved. All shares owned by the Company\u2019s sponsor, management and related entities as of March 17, 2021 have been voted in favor of the Extension Amendment.\n<\/p>\n
\n“I would like to thank the shareholders that have already voted their proxies. However, more votes are needed to meet the required threshold for the Extension Amendment Proposal to be approved. Only you, our stockholders of record as of March 17, 2021, can make this vote happen,” stated Stephen Vogel, Chairman and CEO of Tuscan Holdings Corp.\n<\/p>\n
\nPlease vote by telephone or internet today. 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<\/a>.\n<\/p>\n
Additional Information and Where to Find It<\/b><\/p>\n
\nIn connection with the annual meeting of stockholders, Tuscan filed a definitive proxy statement with the SEC on March 24, 2021 (\u201cAnnual Meeting Proxy Statement\u201d). Additionally, in connection with the proposed business combination transaction involving Tuscan and Microvast, Inc. a Delaware corporation (\u201cMicrovast\u201d), Tuscan filed a preliminary proxy statement with the SEC on February 16, 2020 and intends to file a definitive proxy statement (collectively, \u201cMerger Proxy Statement\u201d). 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\u2019s website at www.sec.gov<\/a>. 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.\n<\/p>\n
No Offer or Solicitation<\/b><\/p>\n
\nThis 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.\n<\/p>\n
Participants in Solicitation<\/b><\/p>\n
\nThis 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\u2019s directors and executive officers and their ownership of Tuscan\u2019s securities is set forth in Tuscan\u2019s filings with the SEC, including Tuscan\u2019s 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\u2019s 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.\n<\/p>\n
Forward Looking Statements<\/b><\/p>\n
\nThis communication contains \u201cforward-looking statements\u201d 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 \u201cwill likely result,\u201d \u201care expected to,\u201d \u201cwill continue,\u201d \u201cis anticipated,\u201d \u201cestimated,\u201d \u201cbelieve,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cprojection,\u201d \u201coutlook\u201d 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.\n<\/p>\n
\nIn addition to factors previously disclosed in Tuscan\u2019s 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\u2019s 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.\n<\/p>\n
\nAll 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.\n<\/p>\n
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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210420006197\/en\/<\/a><\/span><\/p>\n
\nTuscan Holdings Corp.:
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Stephen Vogel
\n
Chairman & CEO
\n
Email: stephen@vpllp.com<\/a><\/p>\n\nStockholders:
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Advantage Proxy, Inc.
\n
Toll Free: 1-877-870-8565
\n
Collect: 1-206-870-8565
\n
Email: ksmith@advantageproxy.com<\/a><\/p>\n
- If you need assistance voting your shares, please contact Advantage Proxy, Inc., Tuscan Holdings\u2019 proxy solicitor, toll-free at 1-877-870-8565, collect at 1-206-870-8565 or by email to ksmith@advantageproxy.com<\/a><\/i><\/li>\n<\/ul>\n
- Leading independent voting advisory firms Institutional Shareholder Services and Glass Lewis have recommended stockholders vote “FOR” the extension amendment.<\/i><\/li>\n<\/ul>\n
- If the Extension Amendment Proposal is not approved by the requisite vote, stockholders will not have the opportunity to vote on the business combination with Microvast, Tuscan may need to be dissolved and in such event your shares would be redeemed for approximately $10.22 per share. <\/i><\/li>\n<\/ul>\n