SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 13, 2023
Microvast Holdings, Inc.
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction|
|(Commission File Number)||(IRS. Employer|
12603 Southwest Freeway, Suite 300
Stafford, Texas 77477
(Address of principal executive offices, including zip code)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common stock, par value $0.0001 per share||MVST|
The NASDAQ Stock Market LLC
|Redeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share||MVSTW|
The NASDAQ Stock Market LLC
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 10, 2023, Microvast Holdings, Inc. (the “Company”) and Sascha Rene Kelterborn, the Company’s President and Chief Revenue Officer, mutually agreed that, effective immediately, Mr. Kelterborn would step down from his role as President of the Company in order to focus on developing the Company’s global business especially in North America, Europe and Asia. Mr. Kelterborn will remain employed as the Company’s Chief Revenue Officer pursuant to the terms of his agreements with the Company.
Effective immediately, Yang Wu, the Company’s Chief Executive Officer and a member of the Company’s Board of Directors, will also serve as President of the Company. Mr. Wu did not enter into any new agreements with the Company and will not receive any additional compensation in connection with his service as President and Chief Executive Officer of the Company.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: January 13, 2023||MICROVAST HOLDINGS, INC.|
|By:||/s/ Craig Webster|
|Title:||Chief Financial Officer|