TMT Acquisition Corp. Merges with eLong Power, Expanding Access to US Equity Markets
October 29, 2024
Merger Vote: Oct 29, 24
Industry:
BLANK CHECKS
New York, NY – TMT Acquisition Corp (Nasdaq: TMTCU / TMTC / TMTCR), a special purpose acquisition company (SPAC), has received shareholder approval for its business combination with eLong Power Holding Limited. eLong Power specializes in high-power battery technologies for commercial vehicles, specialty vehicles, and energy storage systems.
The merger, unanimously approved by the boards of both companies, is expected to close soon, with the combined entity trading on the Nasdaq Stock Market under the symbol “ELPW”. This move will provide eLong Power with access to the US public equity markets, facilitating its business expansion and creating new opportunities for growth and value creation.
About eLong Power:
eLong Power focuses on the research, development, manufacturing, and sales of high-power lithium-ion batteries. Their products cater to various applications, including:
- Electric vehicles and construction machinery
- Large-capacity, long-cycle energy storage systems
eLong Power offers a comprehensive suite of products and technologies, encompassing battery cells, modules, system integration, and battery management systems.
About TMT Acquisition Corp:
TMT Acquisition Corp is a SPAC formed with the purpose of merging with or acquiring existing businesses.
This merger represents a significant step for both companies, potentially accelerating the growth and market reach of eLong Power’s battery technologies.