TMT Acquisition Corp Extends Liquidation Date with Deposit into Trust Account

TMT Acquisition Corp (NASDAQ: TMTCU) recently made a substantial development to extend its liquidation date. On October 23, 2024, Ms. Xiaozhen Li, a limited partner of the Sponsor, deposited $140,000 into the Trust Account to facilitate an extra one-month extension. This move pushes the Company’s liquidation date to November 30, 2024.

To solidify this extension, TMT issued a promissory note to Ms. Xiaozhen Li on the same day. The note, amounting to $140,000, does not carry any interest and will be repaid in full upon the completion of the Business Combination. Additionally, Ms. Xiaozhen Li holds the option to convert the note, partially or entirely, into TMTC units. To exercise this conversion, a written notice must be provided to TMTC at least two business days before the Business Combination’s completion.

Each TMTC unit, upon conversion, comprises one TMTC ordinary share and a right to obtain two-tenths of one TMTC ordinary share. Detailed terms and conditions regarding the note are available for reference in the accompanying Exhibit 10.1.

In parallel to these moves, eLong Power Holding Limited, the company set to merge with TMT Acquisition Corp, has filed a registration statement on Form F-4. This statement, registered under File No. 333-280512 and approved by the SEC on September 30, 2024, includes a proxy statement and a prospectus encompassing essential information about the upcoming business merger. Shareholders are strongly encouraged to review these documents before making any informed voting decisions.

Executives from both eLong Power and TMT Acquisition Corp, including directors and officers, are acknowledged as participants in the proxy solicitation process. It is advised that shareholders and potential investors carefully assess the proxy statement/prospectus for a comprehensive understanding of the impending business merger and the entities involved.

eLong Power Holding Limited, the merger partner, specializes in high-power lithium-ion batteries for electric vehicles and construction machinery, emphasizing research, manufacturing, and service provision in this arena. On the other hand, TMT Acquisition Corp operates as a blank check company and Special Purpose Acquisition Company (SPAC) intending to engage in business mergers and acquisitions to foster growth.

This news collective is subject to forward-looking statements and various risks and uncertainties could impact the actualization of detailed plans. Stakeholders are reminded to peruse the companies’ SEC filings for comprehensive insights into the business landscape. Press releases and developments will be continually updated as the situation unfolds, adhering to legal frameworks and obligations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TMT Acquisition’s 8K filing here.

TMT Acquisition Company Profile

TMT Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.