TMT Acquisition Corp (NASDAQ: TMTCU) recently held an extraordinary general meeting where shareholders voted on various proposals, including the approval of a business combination with eLong Power Holding Limited. The meeting, conducted on October 29, 2024, saw significant participation from shareholders, representing over 93% of ordinary shares outstanding.
During the meeting, several proposals were put forth and subsequently approved by TMTC’s shareholders. Proposal No. 1, centered on the Business Combination Agreement, received majority approval from the attending shareholders. Similarly, Proposal No. 2, focusing on the Merger and Charter Proposal, also secured the necessary votes for approval, along with Proposal No. 3, the NTA Proposal.
Furthermore, 4,247,501 TMTC Ordinary Shares were redeemed at the meeting for approximately $11.30 per share, totaling an aggregate redemption amount of $48,006,288.
Following the successful meeting, TMTC issued a press release on October 29, 2024, announcing the meeting results. The business combination with eLong Power Holding Limited has the aim of providing eLong Power access to the U.S. public equity markets, accelerating its business expansion efforts.
TMT Acquisition Corp is a blank check company, also known as a special purpose acquisition company (SPAC). Led by Dajiang Guo, Chairman and CEO, and Jichuan Yang, CFO, TMTC focuses on executing mergers, acquisitions, or other business combinations with companies.
Cautionary language and forward-looking statements have been carefully included within the corresponding filings with the Securities and Exchange Commission (SEC), emphasizing the importance of considering potential risks and uncertainties associated with such business combinations.
As the transaction progresses towards closure, subject to fulfilling specific conditions, the resulting combined entity is expected to trade on the Nasdaq Stock Market under the symbol “ELPW.” Financial and legal advisors have been engaged to facilitate and oversee the merger process successfully.
For further details and updates on the business combination, shareholders and investors are advised to refer to the SEC filings available on the SEC’s website or through written requests to TMT Acquisition Corporation.
About eLong Power Holding Limited, the company focuses on research, development, and sales of high-power lithium-ion batteries for electric vehicles and energy storage systems. Led by Chairwoman and CEO, Ms. Xiaodan Liu, eLong Power is committed to advancing energy applications and offering comprehensive battery solutions.
The article is based on the recent Form 8-K filing submitted by TMT Acquisition Corp to the SEC and outlines the key developments related to the shareholder vote and the proposed business combination.
For further information regarding the business combination, shareholders and interested parties may refer to the formal filings and disclosures submitted to the SEC.
This release is intended to provide an overview of recent updates related to TMT Acquisition Corp’s business combination with eLong Power Holding Limited and the results of the shareholder meeting.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TMT Acquisition’s 8K filing here.
TMT Acquisition Company Profile
TMT Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.
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