THCB SEC filings, in plain English
Everything Tuscan Holdings Corp. has filed with the SEC that we hold — 40 filings, newest first, 5 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Microvast Holdings, Inc. filed an 8-K on August 31, 2026, reporting that it received a notice from Nasdaq on August 26, 2026, stating its common stock failed to maintain the $1 minimum closing bid price requirement for 30 consecutive trading days. The filing grants the company 180 days to cure this deficiency and regain compliance with Nasdaq Listing Rule 5450(a)(1). Why it matters: Investors should note that while the SPAC Tuscan Holdings Corp is closed, the post-merger entity faces delisting risk if it cannot restore its share price within the grace period, potentially impacting liquidity and valuation.
What changed: Microvast Holdings, Inc. (Nasdaq: MVST) furnished a press release reporting second quarter 2026 results. Revenue was $87.3 million against $91.3 million a year earlier, a 4.5% decline the company attributes primarily to $2.7 million of IEEPA tariff refunds issued to a U.S. customer and recorded as a reduction of revenue; gross margin fell to 29.5% from 34.7% on higher raw material prices and lower production utilization. Operating expenses rose to $27.5 million from $23.7 million. Why it matters: The reported six-month GAAP profit of $36.2 million sits against an adjusted net loss of $19.9 million and negative adjusted EBITDA — the profit is a warrant and convertible-loan revaluation, not operations. Revenue fell 29% over six months while capital expenditure rose, and cash fell $26.1 million.
What changed: Microvast discloses substantial going-concern doubt that has not been alleviated, with $127.8M cash against $104.2M short-term borrowings and a $41.7M bond maturing Jan 2027. CEO Yang Wu converted his $25.0M convertible loan into 50.0M shares at $0.50/share on May 28, 2026, and the 27.6M SPAC public warrants plus 837K private warrants expired unexercised on July 23, 2026. Why it matters: The going-concern warning, negative operating cash flow of -$33.3M for H1 2026 (vs +$44.3M prior year), and 29% revenue decline signal severe financial distress for this de-SPAC'd company. The CEO's conversion at $0.50/share diluted holders by ~15% (shares outstanding rose from ~331.8M to ~384.5M), while warrant expiration confirms the stock traded well below $11.50.
combination deadline, going-concern doubtnothing moved · 2 with no prior record of ours
- Combination deadline
- 2026-05-28 · unchanged
- Going-concern doubt
- stated · unchanged
The clause …“was subsequently amended on March 17, 2025 to extend the maturity date to May 28, 2026. The loan includes an Initial Term Loan of $ 12.0 million and a Delayed Draw Term Loan of $ 13.0 million at an initial interest rate equal to the”…
The clause …“statements include, but are not limited to, statements about the substantial doubt regarding our ability to continue as a going concern, our ability to implement our plans to alleviate that substantial doubt, our ability to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Microvast Holdings filed an 8-K disclosing an offer letter dated August 6, 2026 hiring Derek Liu as Chief Accounting Officer at a $350,000 annual base salary with a 50% target short-term incentive, starting August 7, 2026. Why it matters: This is a routine post-close executive hire with no impact on trust value, redemptions, or deal structure; it signals ongoing management build-out at the combined company.
combination deadline, going-concern doubt, sponsor loans outstandingnothing moved · 3 with no prior record of ours
- Combination deadline
- 2026-05-28 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $119Knot matched in this filing
The clause …“was subsequently amended on March 17, 2025 to extend the maturity date to May 28, 2026. The loan includes an Initial Term Loan of $ 12.0 million and a Delayed Draw Term Loan of $ 13.0 million at an initial interest rate equal to the”…
The clause …“operations through the next twelve months. These conditions and events raise substantial doubt about the Company's ability to continue as a going concern. 8 Table of Contents MICROVAST HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
combination deadline, going-concern doubt, sponsor loans outstanding +1nothing moved · 4 with no prior record of ours
- Combination deadline
- 2026-05-28 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $105Knot matched in this filing
- Mandate language
- We are focusing on electrification with battery technologies…not matched in this filing
The clause …“with Mr. Yang Wu to extend the maturity date from November 28, 2025 to May 28, 2026. All other terms and conditions of the Loan Agreement remain unchanged. The Loan Agreement also grants Mr. Wu the right to convert the”…
The clause …“Risks Related to Our Business and Industry We may be unable to continue as a going concern. In prior periods, we disclosed that substantial doubt as to our ability to continue as a going concern existed due to liquidity constraint and”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2025-08-11sponsor loan $117K → $119K
sponsor loans outstanding, combination deadline, going-concern doubt1 moved · 2 with no prior record of ours
- Sponsor loans outstanding
- $117K$119K
- Combination deadline
- 2026-05-28 · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as the sponsor has advanced $1,439 more.
The clause …“assets of $ 302,638 . As of September 30, 2025, the Group held outstanding borrowings of $ 118,786 , with $ 84,390 due within the next 12 months, convertible loan with repayment amount of $ 26,203 (including the paid in kind interest”…
The clause …“the Loan Agreement to extend the Maturity Date from November 28, 2025 to May 28, 2026. All other terms and conditions of the Loan Agreement remain the same. The modification of term is treated as a continuation of the original debt”…
The clause …“with $ 7,706 due within the next 12 months. These conditions and events raise substantial doubt about the Group’s ability to continue as a going concern. Management’s primary plans to alleviate the substantial doubt are as described”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Microvast Holdings, Inc. (SPAC ticker THCB) filed its 2025 annual meeting proxy for a virtual meeting on October 23, 2025 at 9:00 a.m. Central Time. Notices went to record holders as of August 26, 2025, with mailing beginning on or about September 10, 2025. As of the record date there were 325,354,111 shares of common stock issued and outstanding and approximately 90 stockholders of record. Business is routine: director elections, ratification of the auditor for the fiscal year ending December 31, 2025, and other proper business. Why it matters: Nothing here changes the capital structure — this is standard annual governance at a former SPAC that has been public for years. Two details are worth keeping: only about 90 holders of record sit behind 325,354,111 shares, so essentially the whole float is in street name, and the pay-versus-performance table shows a three-year period from January 1, 2022 to December 31, 2024 in which value moved from $4.31 to $2.00, a decline of 53.53%. The company's transfer agent remains Continental Stock Transfer & Trust.
sponsor loans outstandingnothing moved · 1 with no prior record of ours
- Sponsor loans outstanding
- not previously extracted$100K
The clause …“any permitted successors and assigns of Mr. Wu with the right to convert the outstanding principal balance of the Loan, in whole or in part in increments of $100,000, into shares of our common stock, par value $0.0001 per share, of the”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.