Stephen A. Vogel - Jul 23, 2021 Form 4 Insider Report for Microvast Holdings, Inc. (MVST)

Role: Director
Signature: /s/ Stephen A. Vogel
Stock symbol: MVST
Transactions as of: Jul 23, 2021
Transactions value $: $3,000,000
Form type: 4
Date filed: 7/27/2021, 04:52 PM
Next filing: Aug 3, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MVST	Common Stock	Other	$0	-1.96M	-26.66%	$0.00	5.4M	Jul 23, 2021	By Tuscan Holdings Acquisition LLC	F1, F2
transaction	MVST	Common Stock	Conversion of derivative security	$1.5M	+150K		$10.00	150K	Jul 23, 2021	Direct

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

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MVST	Warrants	Other	$0	-168K	-30%	$0.00	391K	Jul 23, 2021	Common Stock	168K	$11.50	By Tuscan Holdings Acquisition LLC	F1, F2, F3, F4
transaction	MVST	Convertible Promissory Note	Award	$1.5M				$1.5M	Jul 23, 2021	Units	150K	$10.00	Direct	F5
transaction	MVST	Convertible Promissory Notes	Conversion of derivative security	-$1.5M	-150K	-100%	$10.00	0	Jul 23, 2021	Units	150K	$10.00	Direct	F5, F6
transaction	MVST	Warrants	Conversion of derivative security	$1.5M	+150K	+38.36%	$10.00	541K	Jul 23, 2021	Common Stock	150K	$11.50	Direct	F3, F4

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

Explanation of Responses:

Id	Content
F1	Represents the pro rata distribution of securities from Tuscan Holdings Acquisition LLC to a member.
F2	The reporting person is the sole managing member of this entity.
F3	The warrants will become exercisable 30 days after completion of the Issuer's initial business combination.
F4	The warrants expire on the fifth anniversary of the completion of the Issuer's initial business combination.
F5	The promissory note was convertible, at the holder's option, upon the closing of the Issuer's initial business combination, into 150,000 units, each unit consisting of 1 share of common stock and 1 warrant. The aggregate principal amount of notes not so converted would be repaid upon the closing of the Issuer's initial business combination.
F6	Upon the completion of the Issuer's initial business combination, each unit was split into 1 share of common stock and 1 warrant.