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SPAC · Merger completed

TMT Acquisition Corp.

Business combination with ELong Power Inc.

TMT Acquisition Corp. is a blank-check company (SPAC) that raised $60M in its initial public offering on Mar 29, 2023, listing on Nasdaq Global Market. It completed its business combination with ELong Power Inc. on Nov 21, 2024; the combined company is Elong Power Holding Limited (ELPW). Maxim Group led the IPO, with Revere. Ogier advised the SPAC and Loeb & Loeb advised the underwriters on the IPO.

ELong Power Inc. is a provider of high-power battery technologies for commercial and specialty vehicles and energy storage systems, based in Ganzhou, China. Its operating entity is Yipeng Huizhou, and it agreed a business combination with TMT Acquisition Corp in December 2023.

Status
Merger completed
IPO date
Mar 29, 2023
IPO size
$60M
IPO exchange
Nasdaq Global Market
Target
ELong Power Inc.
Announced
Dec 4, 2023
Closed
Nov 21, 2024
Combined company
Elong Power Holding Limited (ELPW)
IPO underwriters
Maxim Group and Revere
SPAC counsel (IPO)
Ogier
Underwriters' counsel (IPO)
Loeb & Loeb

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