TMT Acquisition Shares Down 63% on Expected Close of ELong Power Deal

Dow Jones2024-11-22

By Josh Beckerman

Shares of TMT Acquisition fell after a Nasdaq alert said the blank-check company's deal with battery-technology company eLong Power Holding was expected to close Thursday.

TMT Acquisition stock was recently down 63%, to $2.39, late Thursday.

The company said Oct. 29 that its merger with eLong Power was expected to close in the coming weeks.

A Nasdaq alert said the deal was expected to close Thursday, and a securities filing from eLong Power showed that Nasdaq had approved its shares for listing.

The companies announced the deal in December 2023. Like many blank-check companies, TMT extended its deadline for completing a business combination.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 21, 2024 15:50 ET (20:50 GMT)

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