Microvast files Section 205 petition to validate SPAC extension amendment; hearing March 18

Microvast Holdings, Inc.

Filed Section 205 petition in Delaware Court of Chancery on Dec 13, 2023, to validate extension amendment and business combination.
Hearing set for March 18, 2024; stockholders may appear or file opposition by Feb 27, 2024.
Extension amendment approved by majority vote after termination date; charter required 65% supermajority during target period.
If court invalidates, capital structure and shares issued could be void, affecting market cap >$340M.

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