Yang Wu - 28 May 2024 Form 4 Insider Report for Microvast Holdings, Inc. (MVST)

Role: Chairman & CEO, Director, 10%+ Owner
Signature: /s/ Yang Wu
Issuer symbol: MVST
Transactions as of: 28 May 2024
Transactions value $: $25,000,000
Form type: 4
Filing time: 21 Nov 2024, 21:44:07 UTC
Previous filing: 06 Apr 2022
Next filing: 06 Dec 2024
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MVST	Convertible Loan	Award	$12M			24M	28 May 2024	Common Stock	24M	$0.50	Direct	F1
transaction	MVST	Warrants (Right to Buy)	Award	$0	+5.5M	$0.00	5.5M	28 May 2024	Common Stock	5.5M	$2.00	Direct	F2
transaction	MVST	Convertible Loan	Award	$13M			50M	23 Jul 2024	Common Stock	26M	$0.50	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the Loan and Security Agreement, dated as of May 28, 2024, by and among the Issuer, Microvast, Inc., each direct or indirect subsidiary of the Issuer that is or may, from time to time, become a party thereto, the Reporting Person and Acquiom Agency Services LLC (the "Loan Agreement"), the Reporting Person made available to the Issuer an initial term loan in the amount of $12,000,000 and a delayed draw term loan in the amount of $13,000,000. Pursuant to the Loan Agreement, the Reporting Person has the right to convert the outstanding principal balance of the loans issued thereunder, in whole or in part, in increments of $100,000 into shares of common stock, par value $0.0001 per share, of the Issuer ("Common Stock") at an initial conversion rate equal to two shares of Common Stock per $1.00 of principal to be converted.
F2	In connection with its entry into the Loan Agreement, the Issuer issued to the Reporting Person a warrant to purchase shares of Common Stock that was immediately exercisable, in whole or in part, in increments of 100,000 shares of Common Stock.

Content

Pursuant to the Loan and Security Agreement, dated as of May 28, 2024, by and among the Issuer, Microvast, Inc., each direct or indirect subsidiary of the Issuer that is or may, from time to time, become a party thereto, the Reporting Person and Acquiom Agency Services LLC (the "Loan Agreement"), the Reporting Person made available to the Issuer an initial term loan in the amount of $12,000,000 and a delayed draw term loan in the amount of $13,000,000. Pursuant to the Loan Agreement, the Reporting Person has the right to convert the outstanding principal balance of the loans issued thereunder, in whole or in part, in increments of $100,000 into shares of common stock, par value $0.0001 per share, of the Issuer ("Common Stock") at an initial conversion rate equal to two shares of Common Stock per $1.00 of principal to be converted.

In connection with its entry into the Loan Agreement, the Issuer issued to the Reporting Person a warrant to purchase shares of Common Stock that was immediately exercisable, in whole or in part, in increments of 100,000 shares of Common Stock.