Microvast enters $25M loan with CEO; warrant for 5.5M shares at $2.00

Microvast Holdings, Inc.

$12M initial term loan funded; $13M delayed draw available until July 8, 2024.
Interest rate: Term SOFR + 9.75% p.a.; 3.75% paid in kind. Matures Nov 28, 2025.
CEO Yang Wu is sole lender; receives warrant for 5,500,000 shares at $2.00/share (expires May 28, 2029).
Lenders may convert outstanding principal to common stock at 2 shares per $1.00 of principal.
Obligations secured by substantially all assets of borrower and guarantors.

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