Microvast Holdings Inc.
05/28/2026 | Press release | Distributed by Public on 05/28/2026 15:27
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 27, 2026, Eric N. Garcia ceased to be employed as Chief Accounting Officer of Microvast Holdings, Inc. (the "Company").
Item 8.01 Other Events.
As previously disclosed, on May 28, 2024, the Company entered into a $25.0 million convertible loan agreement (the "Loan Agreement") with Mr. Yang Wu, the Company's Chief Executive Officer and Chairman, which was subsequently amended on March 17, 2025 to extend the maturity date to May 28, 2026.
On May 28, 2026, Mr. Wu delivered a Notice of Conversion in respect of the full $25.0 million principal amount outstanding under the Loan Agreement. Such principal amount will be converted into shares of common stock of the Company in accordance with the terms of the Loan Agreement.
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