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SPAC · Merger completed

TMT Acquisition Corp.

Business combination with ELong Power Inc.

TMT Acquisition Corp. is a blank-check company (SPAC) that raised $60M in its initial public offering on Mar 29, 2023, listing on Nasdaq Global Market. It completed its business combination with ELong Power Inc. on Nov 21, 2024; the combined company is Elong Power Holding Limited (ELPW). Maxim Group led the IPO, with Revere. Ogier advised the SPAC and Loeb & Loeb advised the underwriters on the IPO.

ELong Power Inc. is a provider of high-power battery technologies for commercial and specialty vehicles and energy storage systems, based in Ganzhou, China. Its operating entity is Yipeng Huizhou, and it agreed a business combination with TMT Acquisition Corp in December 2023.

Status
Merger completed
IPO date
Mar 29, 2023
IPO size
$60M
IPO exchange
Nasdaq Global Market
Target
ELong Power Inc.
Announced
Dec 4, 2023
Stated deal value
$450M
Closed
Nov 21, 2024
Combined company
Elong Power Holding Limited (ELPW)
IPO underwriters
Maxim Group and Revere
SPAC counsel (IPO)
Ogier
Underwriters' counsel (IPO)
Loeb & Loeb

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