TMT Acquisition Corp Announces Merger Agreement With Specialty Battery Technologies Provide eLong Power; Upon Closing eLong Power's Shareholders Would Receive 45M Ordinary Shares Of eLong Power Inc. At Implied Value Of $10
Portfolio Pulse from Benzinga Newsdesk
TMT Acquisition Corp has entered into a merger agreement with eLong Power, a provider of specialty battery technologies. Upon the closing of the deal, eLong Power's shareholders are set to receive 45 million ordinary shares of eLong Power Inc., with an implied value of $10 per share. This transaction will likely result in eLong Power becoming a publicly traded entity through a reverse merger with TMT Acquisition Corp.
December 04, 2023 | 2:18 pm
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POSITIVE IMPACT
TMT Acquisition Corp's merger with eLong Power could lead to significant changes in its stock price as the market reacts to the news of the reverse merger and the valuation of the deal.
The announcement of a merger agreement typically leads to increased investor interest and potential stock price movement. Given that eLong Power's shareholders will receive a substantial number of shares, this deal is significant for TMT Acquisition Corp. The implied value of $10 per share provides a reference point for investors to gauge the deal's impact on TMTCU's stock price.
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IMPORTANCE 90
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