TMT Acquisition Corp to Merge with eLong Power Holding Limited

December 4, 2023

TMT Acquisition Corp (a publicly traded SPAC) entered into a definitive business combination agreement to take eLong Power Holding Limited public via a merger, with the combined company expected to be named eLong Power Inc. The transaction values initial equity at an implied $450 million and is expected to close in the first half of 2024, providing eLong Power with access to U.S. public markets and capital to support expansion of its commercial EV and energy storage battery business.

Buyers
TMT Acquisition Corp
Targets
eLong Power Holding Limited, Huizhou Yipeng Energy Technology Co., Ltd.
Industry
Energy
Location
Jiangxi, China
Transaction Type
Buyout

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