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Reverse Recapitalization (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended |
--- | --- | ---
Sep. 30, 2021 | Jul. 23, 2021
Reverse Recapitalization (Details) [Line Items] |  |
Purchase price, per share (in Dollars per share) | $ 10 |
Aggregate purchase price | $ 482.5 |
Framework agreement description | (1) the CL Investors waived their convertible loans issued on November 2, 2018, by MPS, in exchange for 6,719,845 shares of Common Stock of the Company and (2) the MPS minority investors waived their rights in MPS’s equity in exchange for 17,253,182 shares of Common Stock of the Company (refer to Note 14). |
Additional shares of common stock (in Shares) | 19,999,988 |
Weighted average price of the common stock (in Dollars per share) | $ 18 |
Common stock receiving a per share (in Dollars per share) | $ 18 |
Description of exchange ratio | Each of the options to purchase Microvast, Inc.’s common stock that was outstanding before the Merger was converted into options to acquire Common Stock by computing the number of shares and converting the exercise price based on the exchange ratio of 160.3 (the “Common Exchange Ratio”). Refer to Note 17.Each capped non-vested share unit of Microvast, Inc. that was outstanding before the Merger was converted into a non-vested share unit of the Company by computing the number of shares and converting the capped price based on the Common Exchange Ratio. Refer to Note 17. |
Shares subject to cancellation (in Shares) | 1,687,500 |
Proceeds from contributions | $ 708.4 |
Cash held in tuscan’s trust account | 281.7 |
Net of redemptions | 0.9 |
Cash in connection with the PIPE financing | 482.5 |
Transaction costs | $ 58.3 |
Escrow shares (in Shares) | 1,687,500 |
Cancellation condition description | (i) 50% of 1,687,500 shares shall be cancelled if the last sale price of the Common Stock does not equal or exceed $12.00 per share for any 20 trading days within any 30-trading day period prior to the fifth anniversary of the Closing, and (ii) 50% of 1,687,500 shares shall be cancelled if the last sale price of the Common Stock does not equal or exceed $15.00 per share for any 20 trading days within any 30-trading day period prior to the fifth anniversary of the Closing. |
Microvast Inc [Member] |  |
Reverse Recapitalization (Details) [Line Items] |  |
Merger agreement description (in Shares) | 209,999,991 |
Bridge Notes [Member] |  |
Reverse Recapitalization (Details) [Line Items] |  |
Outstanding promissory notes issued |  | $ 57.5
Merger agreement description (in Shares) | 6,736,106 |
PIPE Investors [Member] |  |
Reverse Recapitalization (Details) [Line Items] |  |
Merger agreement description (in Shares) | 48,250,000 |
Sponsor [Member] |  |
Reverse Recapitalization (Details) [Line Items] |  |
Private placement unit (in Shares) | 150,000 |
Conversion of notes payable | $ 1.5 |
Purchase of common stock (in Shares) | 150,000 |
Warrant exercise price (in Dollars per share) | $ 11.5 |
Common Stock [Member] | Sponsor [Member] |  |
Reverse Recapitalization (Details) [Line Items] |  |
Private placement unit (in Shares) | 150,000 |
Additional Paid-in Capital [Member] |  |
Reverse Recapitalization (Details) [Line Items] |  |
Transaction costs | $ 15.5 |
Initial Public Offering [Member] |  |
Reverse Recapitalization (Details) [Line Items] |  |
Transaction costs | $ 42.8 |

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- Definition Shares received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. + References No definition available. + Details
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