Microvast Announces Up To $25M Corporate Loan Facility Provided By Yang Wu, Its Founder, Chairman And CEO
Portfolio Pulse from Benzinga Newsdesk
Microvast Holdings, Inc. (NASDAQ:MVST) has secured a $25 million corporate loan facility from its Founder, Chairman, and CEO, Yang Wu. The initial $12 million draw will provide working capital for U.S. operations.
June 04, 2024 | 2:38 pm
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Microvast Holdings, Inc. has secured a $25 million loan facility from its CEO, Yang Wu, with an initial $12 million draw to support U.S. operations.
The secured loan facility provides Microvast with necessary working capital to continue its U.S. operations, which is crucial for its growth and stability. This financial support from the CEO indicates strong internal confidence in the company's future prospects.
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