TMT Acquisition Corp.
TMTC · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from 2TM Holding LP, listed on Nasdaq in March 2023.
- What it's doing now
- It agreed to buy Elong Power Holding Limited, a lithium-ion battery manufacturing for EVs and energy storage company. The deal valued that business at about $450M. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Elong Power Holding Limited
- Industry
- Consumer Discretionary — lithium-ion battery manufacturing for EVs and energy storage
- Deal value
- $450M
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 29 March 2023
- size not on file · 102.0% of each $10 unit into trust
- Headquarters
- 500 FIFTH AVENUE, SUITE 938, NEW YORK, NY, 10110
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Guo Dajiang (Chief Executive Officer) · Constable Christopher (Director) · Gong Kenan (Director)
- Listed securities
- TMTC common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 27 September 2024 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
4 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
redemption rate not stated in the filing
Show the earlier 1 milestone
- 29 March 2023IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedConsumer Discretionarypost-close ELPWSEC primary
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
1.71M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Sep 27, 2024Extensionno rate stated
The score
deterministic, from filed fieldsTMTC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
TMT Acquisition Corp. (Nasdaq: TMTC) was a blank-check company whose IPO was priced on March 29, 2023, per a 424B prospectus. The company's SEC filings include a 10-Q filed on November 19, 2024, on whose cover page the common ticker TMTC appears. The vehicle is now closed, with Form 25 filed on November 21, 2024, under 17 CFR 240.12d2-2(a)(3), reflecting that its Ordinary Shares, Rights, and Units had come to evidence other securities in substitution therefor.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
Elong's shareholders hold at least 97.3% of the voting power in every scenario, so TMT's public holders and PIPE investors together control under 3% of the combined company - and the percentage worsens as others redeem. Up to 9,000,000 earnout shares would dilute that residual further. With shares held in escrow only as security for the seller's indemnification obligations, public holders have no comparable protection; redemption at trust is the alternative.
The contribution rate has collapsed from the original $0.10 per share per three-month extension to $0.03 a month capped at $100,000 - so holders now receive roughly a third of the accretion the charter originally promised, and they must vote for it rather than receiving it automatically. Any contribution is conditioned on the extension passing, so a rejection stops the top-ups entirely. Redemption at trust remains the alternative.
The new terms are materially worse for holders than the existing ones: the sponsor previously had to deposit $600,000 per three-month extension, and the amendment caps its contribution at $165,000 for the first three months and $55,000 a month thereafter, cutting the money flowing into the trust while extending the deadline nine months further. Those contributions are loans that can convert into private units at $10.00, so the sponsor gains equity rather than being repaid. The $600,000-equals-$0.10 disclosure implies roughly six million public shares remain.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
- What changed vs 2024-08-19trust $65.5M → $67.1M +2%
trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $65.5M$67.1M
- Combination deadline
- not previously extracted2024-11-30
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $800Knot matched in this filing
SpacBrain reads this as $1,603,959 was added to the trust between the two filings.
The clause “Prepaid expenses 43,976 59,531 Total Current Assets 133,156 106,309 Investments held in Trust Account 67,059,866 63,460,478 Total Assets $ 67,193,022 $ 63,566,787 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities: Accrued”…
The clause …“one (1) month extension, extending the Company’s liquidation date to November 30, 2024. In connection with the deposit, on October 23, 2024, the Company issued a promissory note to Ms. Xiaozhen Li with a principal amount of $”…
The clause …“us funds as may be required. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s 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.
Show the other 10 filings
What changed: TMT Acquisition Corp filed a definitive merger proxy for an extraordinary general meeting on October 29, 2024 at its New York offices and virtually, covering the business combination with Elong Power Holding Limited under an agreement dated December 1, 2023 as amended and restated February 29, 2024. Elong will have 45,000,000 ordinary shares outstanding, comprising 39,222,563 Class A and 5,777,437 Class B. Why it matters: Elong's shareholders hold at least 97.3% of the voting power in every scenario, so TMT's public holders and PIPE investors together control under 3% of the combined company - and the percentage worsens as others redeem. Up to 9,000,000 earnout shares would dilute that residual further. With shares held in escrow only as security for the seller's indemnification obligations, public holders have no comparable protection; redemption at trust is the alternative.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2024-06-30
SpacBrain reads this as the agreement may be terminated from 2024-06-30.
The clause …“Company or the SPAC, if the Closing shall not have occurred on or prior to June 30, 2024 (the “ Outside Date ”); provided , that the right to terminate this Agreement pursuant to this Section 8.1(b) shall not be available to any”…
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.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
2TM Holding LPnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1283 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B4 0001493152-23-009338
Trading & liquidity
Company profile
Directors & officers
- Guo DajiangChief Executive Officer
- Constable ChristopherDirector
- Gong KenanDirector
- Yang JichuanChief Financial Officer
- Burns James EdwardDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
5 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- 2TM Holding LP21.3% · SC 13D/ANov 30, 2023 stale
- MIZUHO FINANCIAL GROUP INC7.4% · SC 13GNov 14, 2024 stale
- Harraden Circle Investments, LLCwith 1 other reporting person on the same schedule5.1% · SC 13GOct 4, 2024 stale
- Karpus Management, Inc.0.1% · SC 13G/ADec 6, 2024 stale
- WOLVERINE ASSET MANAGEMENT LLCwith 4 other reporting persons on the same schedule0.0% · SC 13G/ANov 27, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — TMTC (TMT Acquisition Corp.)
vault-note · /vault/tickers/TMTC
- Vault deal note — Elong Power Holding Limited (TMTC)
vault-note · /vault/deals/elong-power-holding-limited
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
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.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
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.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
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.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail9 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001493152-23-009338 priced 2023-03-29; common ticker TMTC off 10-Q 0001493152-24-046854 (2024-11-19); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-24-000887 (2024-11-21) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Ordinary Shares, Rights, Unit). ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
unitSeparationDays=52 from the definitive prospectus (0001493152-23-009338). NOT FILLED: warrantStrike — no stated candidate; warrantCallPrice — no stated candidate; rightShareRatio — REFUSED: 0.2 is not literally in its cited quote
sponsor "2TM Holding LP" (SEC CIK 0001920169) sourced from Form 3 reportingOwner (10% owner) acc 0001493152-23-009170.
AI-extracted target (z-ai/glm-5.2, conf 1)
target sector as filed: "High-power lithium-ion batteries for electric vehicles and construction machinery, and large-capacity, long-cycle lithium-ion batteries for energy storage systems" — 162 chars — over the 120-char noun-phrase bound; stored NULL.
target recovered for a completed de-SPAC; no agreement-naming filing on file, so announcedAt is NULL rather than guessed
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read
OTHER -> BATTERY, on 8-K 0001493152-24-042922: "eLong Power Holding Limited, a Cayman Islands exempted company, is committed to the research and development, manufacturing, sales and service of high-power lit"