TMT Acquisition Corp Announces Entering into a Merger Agreement with eLong Power, a Specialty Battery Technologies Provider for Applications in Commercial EV and Energy Storage
Transaction anticipated to close in the first half of 2024
NEW YORK, N.Y. and Ganzhou, China, Dec. 04, 2023 (GLOBE NEWSWIRE) — TMT Acquisition Corp (“TMTC”) (NASDAQ:TMTCU), a publicly traded special purpose acquisition company (SPAC), and eLong Power Holding Limited (“eLong Power”), a provider of high power battery technologies for commercial and specialty vehicles and energy storage systems, today announced that they have entered into a definitive business combination agreement, dated December 1, 2023, that will result in eLong Power becoming a publicly traded company. Huizhou Yipeng Energy Technology Co., Ltd. (“Yipeng Huizhou”, together with eLong Power, the “Company”) is the operating entity of eLong Power. Upon the closing of the transaction, the combined company is expected to be named eLong Power Inc. and its securities are expected to be listed on the Nasdaq Stock Exchange. The transaction has been approved by the Board of Directors of both companies and is expected to close in the first half of 2024.