<SEC-DOCUMENT>0001213900-21-035747.txt : 20210706
<SEC-HEADER>0001213900-21-035747.hdr.sgml : 20210706
<ACCEPTANCE-DATETIME>20210706160811
ACCESSION NUMBER:		0001213900-21-035747
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210706
DATE AS OF CHANGE:		20210706

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Tuscan Holdings Corp.
		CENTRAL INDEX KEY:			0001760689
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				832530757
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38826
		FILM NUMBER:		211074144

	BUSINESS ADDRESS:	
		STREET 1:		135 E 57TH STREET, 18TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		(917) 208-6200

	MAIL ADDRESS:	
		STREET 1:		135 E 57TH STREET, 18TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>ea143766-defa14a_tuscanhold.htm
<DESCRIPTION>PROXY STATEMENT
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><B>SCHEDULE 14A</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of
the<BR>
Securities Exchange Act of 1934</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Filed by the Registrant &#9746;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Filed by a Party other than the Registrant &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Check the appropriate box:</P>

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    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD></TR>
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    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting Material under &sect;240.14a-12</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><B>TUSCAN HOLDINGS CORP.</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt">&nbsp;(Name of Registrant as Specified In Its Charter)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">(Name of Person(s) Filing Proxy Statement, if other
than the Registrant)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Payment of Filing Fee (Check the appropriate box):</P>

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    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee required.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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    <TD STYLE="text-align: justify; font-size: 10pt; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title of each class of securities to which transaction applies:</FONT></TD></TR>
  </TABLE>
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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate number of securities to which transaction applies:</FONT></TD></TR>
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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</FONT></TD></TR>
  </TABLE>
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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposed maximum aggregate value of transaction:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total fee paid:</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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    <TD STYLE="text-align: justify; font-size: 10pt; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount Previously Paid:</FONT></TD></TR>
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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form, Schedule or Registration Statement No.:</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Party:</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

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    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date Filed:</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 12pt"><B>Tuscan
Holdings Corp. Announces Special Meeting of Stockholders to Approve Business Combination with Microvast, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><I>&bull; Special Meeting
to be held on July 21, 2021</I></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt">&bull; <I>Proxy materials
related to the Special Meeting will be mailed to stockholders of record as of the close of business on June 21, 2021</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">NEW YORK,&nbsp;July 6, 2021&nbsp;&ndash;
Tuscan Holdings Corp. (Nasdaq:&nbsp;THCB) (&ldquo;Tuscan&rdquo;)&nbsp;today announced that it scheduled a special meeting of its stockholders
(the &ldquo;Special Meeting&rdquo;) to approve the proposed business combination with Microvast, Inc. (&ldquo;Microvast&rdquo;), a leading
global provider of next-generation battery technologies for commercial and specialty vehicles, to be held on July 21, 2021 at 9:00 a.m.
ET. Notice of the Special Meeting and related proxy materials will be mailed to all holders of record as of the close of business on June
21, 2021 (the &ldquo;Record Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white; color: #1D2228"><FONT STYLE="background-color: white">The
consummation of the proposed business combination with Microvast and related items require approval at the Special Meeting by the affirmative
vote of the holders of over 50% of the outstanding Tuscan shares. Only stockholders who held Tuscan shares as of the Record Date will
be eligible to vote at the Special Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">Stockholders that owned shares
as of the Record Date are encouraged to submit their vote as soon as possible to ensure that it is represented at the Special Meeting.
Stockholders should please note that if their shares are held at a brokerage firm or bank, stockholders must instruct their bank or broker
to cast the vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">Tuscan stockholders can follow this link to view the Special Meeting document:
<FONT STYLE="color: blue">https://www.sec.gov/Archives/edgar/data/1760689/000121390021035581/defm14a_tuscanholdings.htm</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; background-color: white"><B>For assistance with voting
your shares, please contact&nbsp;Advantage Proxy, Inc.&nbsp;toll free at</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; background-color: white"><B>1-877-870-8565, collect
at 1-206-870-8565 or by email to&nbsp;ksmith@advantageproxy.com.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>About Microvast</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">Microvast, Inc. is a technology
innovator that designs, develops and manufactures lithium-ion battery solutions. Founded in 2006 and headquartered in Houston, TX, Microvast
is renowned for its cutting-edge cell technology and its vertical integration capabilities which extends from core battery chemistry (cathode,
anode, electrolyte, and separator) to battery packs. By integrating the process from raw material to system assembly, Microvast has developed
a family of products covering a broad breadth of market applications. More information can be found on the corporate website: <FONT STYLE="color: blue">www.microvast.com</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>About Tuscan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">Tuscan Holdings Corp. is
a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses. Tuscan&rsquo;s management team is led by Stephen Vogel, Chairman and Chief
Executive Officer. Tuscan is listed on Nasdaq under the ticker symbol &quot;THCB.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>About InterPrivate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">InterPrivate Capital is a
private investment firm that invests on behalf of a consortium of family offices. The firm&rsquo;s unique independent co-sponsor structure
provides its investors with the deep sector expertise and transaction execution capabilities of veteran deal-makers from the world&rsquo;s
leading private equity and venture capital firms. Affiliates of InterPrivate Capital act as sponsors, co-sponsors and advisors of SPACs,
and manage a number of investment vehicles on behalf of its family office co-investors that participate in private and public opportunities,
including PIPE investments in support of the firm&rsquo;s sponsored business combinations. For more information regarding InterPrivate
Capital, please visit www.interprivate.com. For more information regarding InterPrivate&rsquo;s SPAC strategy, please visit <FONT STYLE="color: blue">www.ipvspac.com</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">In connection with the proposed
transaction (the &ldquo;Proposed Transaction&rdquo;) involving Tuscan and Microvast, Tuscan intends to file relevant materials with the
SEC, including a definitive proxy statement (&ldquo;Merger Proxy Statement&ldquo;). On July 2, 2021 Tuscan filed a definitive preliminary
proxy statement with the SEC relating to the Proposed Transaction. INVESTORS AND SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED
TO READ THE MERGER PROXY STATEMENT FOR MORE INFORMATION ABOUT THE PROPOSED TRANSACTION WITH MICROVAST, AND TO READ ANY OTHER RELEVANT
DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE. The Merger Proxy Statement and other documents that may be filed with the SEC can be obtained
free of charge from the SEC&rsquo;s website at <FONT STYLE="color: blue">www.sec.gov</FONT>. These documents can also be obtained free
of charge from Tuscan upon written request to Tuscan at Tuscan Holdings Corp., 135 E. 57th St., 17th Floor, New York, NY 10022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>No Offer or Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">This communication is for
informational purposes only and is not intended to and shall not constitute a proxy statement or the solicitation of a proxy, consent
or authorization with respect to any securities in respect of the Proposed Transaction and shall not constitute an offer to sell or the
solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale,
issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>Participants in Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">This communication is not
a solicitation of a proxy from any investor or securityholder. However, Tuscan and certain of its directors and executive officers may
be deemed to be participants in the solicitation of proxies in connection with the Proposed Transaction under the rules of the SEC. Information
about Tuscan&rsquo;s directors and executive officers and their ownership of Tuscan&rsquo;s securities is set forth in Tuscan&rsquo;s
filings with the SEC, including Tuscan&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed
with the SEC on March 25, 2021. To the extent that holdings of Tuscan&rsquo;s securities have changed since the amounts included in Tuscan&rsquo;s
Annual Report, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional
information regarding the participants is also included in the definitive Merger Proxy Statement filed on July 2, 2021. These documents
can be obtained free of charge from the sources indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>Cautionary Statement Regarding Forward-Looking
Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">This communication contains
&ldquo;forward-looking statements&rdquo; within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include,
but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with
respect to future operations, products and services; and other statements identified by words such as &ldquo;will likely result,&rdquo;
&ldquo;are expected to,&rdquo; &ldquo;will continue,&rdquo; &ldquo;is anticipated,&rdquo; &ldquo;estimated,&rdquo; &ldquo;believe,&rdquo;
&ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;projection,&rdquo; &ldquo;outlook&rdquo; or words of similar meaning. These forward-looking
statements include, but are not limited to, statements regarding the expected proceeds from the Proposed Transaction and the likelihood
and ability of the parties to successfully consummate the Proposed Transaction. Such forward-looking statements are based upon the current
beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties
and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">In addition to factors previously
disclosed in Tuscan&rsquo;s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among
others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed
in the forward-looking statements: (1) the inability to complete the Proposed Transaction or, if Tuscan does not complete the Proposed
Transaction, any other business combination; (2) the inability to complete the Proposed Transaction due to the failure to meet the closing
conditions to the Proposed Transaction, including the inability to obtain approval of Tuscan&rsquo;s stockholders, the inability to consummate
the contemplated PIPE financing, the failure to achieve the minimum amount of cash available following any redemptions by Tuscan stockholders,
the failure to meet the Nasdaq listing standards in connection with the consummation of the Proposed Transaction, or the occurrence of
any event, change or other circumstances that could give rise to the termination of the definitive agreement; (3) costs related to the
Proposed Transaction; (4) a delay or failure to realize the expected benefits from the Proposed Transaction; (5) risks related to disruption
of management time from ongoing business operations due to the Proposed Transaction; (6) the impact of the ongoing COVID-19 pandemic;
(7) changes in the highly competitive market in which Microvast competes, including with respect to its competitive landscape, technology
evolution or regulatory changes; (8) changes in the markets that Microvast targets; (9) risk that Microvast may not be able to execute
its growth strategies or achieve profitability; (10) the risk that Microvast is unable to secure or protect its intellectual property;
(11) the risk that Microvast&rsquo;s customers or third-party suppliers are unable to meet their obligations fully or in a timely manner;
(12) the risk that Microvast&rsquo;s customers will adjust, cancel, or suspend their orders for Microvast&rsquo;s products; (13) the risk
that Microvast will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at
all; (14) the risk of product liability or regulatory lawsuits or proceedings relating to Microvast&rsquo;s products or services; (15)
the risk that Microvast may not be able to develop and maintain effective internal controls; (16) the outcome of any legal proceedings
that may be instituted against Tuscan, Microvast or any of their respective directors or officers following the announcement of the Proposed
Combination; (17) risks of operations in the People&rsquo;s Republic of China; and (18) the failure to realize anticipated pro forma results
and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">Actual results, performance
or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions
on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future
performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance
as projected financial information and other information are based on estimates and assumptions that are inherently subject to various
significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only
as of the date hereof in the case of information about Tuscan and Microvast or the date of such information in the case of information
from persons other than Tuscan or Microvast, and we disclaim any intention or obligation to update any forward-looking statements as a
result of developments occurring after the date of this communication. Forecasts and estimates regarding Microvast&rsquo;s industry and
end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove
accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts
and may not reflect actual results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white"><B>Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">Microvast Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white; color: blue">IR@microvast.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">(346) 309-2562</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">Microvast Public Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white; color: blue">media@microvast.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">Tuscan Holdings Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">Investor Relations, ICR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white; color: blue">TuscanIR@icrinc.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">InterPrivate Capital</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">Charlotte Luer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white; color: blue">ir@interprivate.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

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