MVST - What's Going On With Microvast Stock? | Benzinga
Microvast Holdings, Inc. (NASDAQ:MVST) shares are trading higher Tuesday after the company announced an up to $25 million corporate loan facility.
The Details:
Microvast announced that it has completed the initial $12 million draw of a $25 million secured debt facility provided by Yang Wu, Microvast Holdings' founder, chairman and CEO. The draw will primarily provide working capital to continue the company’s U.S. operations.
The company said it has worked to streamline its operations to ensure long-term sustainability, including workforce reductions and consolidations within its U.S. battery division.
“We would like to thank our customers who continue to support us through challenging times. We are firmly ...