Microvast CEO converts $25M loan; CAO departs

Microvast Holdings, Inc. reported two key developments.

(Moderate)

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Microvast Holdings, Inc. reported two key developments. Chief Executive Officer Yang Wu elected to convert the full $25.0 million principal under his convertible loan agreement into shares of Microvast common stock, in line with the agreement’s terms and following the maturity extension to May 28, 2026.

The company also disclosed that, effective May 27, 2026, Eric N. Garcia ceased to be employed as Chief Accounting Officer. Microvast’s common stock and redeemable warrants continue to trade on The Nasdaq Stock Market under the symbols MVST and MVSTW.

Insights

CEO converts a related-party loan to equity and CAO exits.

Microvast highlights a related-party financing milestone: CEO Yang Wu is converting the entire $25.0 million principal of his convertible loan into common stock. This removes that portion of debt and increases equity held by the company’s chief executive, aligning with the loan’s original terms.

The filing also notes that Eric N. Garcia is no longer employed as Chief Accounting Officer as of May 27, 2026. No replacement or reasons are provided in this excerpt, so the direct operational impact on financial reporting processes cannot be assessed from the available information.

8-K Event Classification

3 items: 5.02, 8.01, 9.01

3 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Convertible loan principal: $25.0 million Loan maturity date after amendment: May 28, 2026 Common stock par value: $0.0001 per share +3 more

6 metrics

Convertible loan principal $25.0 million Principal under CEO Yang Wu’s convertible loan agreement

Loan maturity date after amendment May 28, 2026 Extended maturity date set on March 17, 2025

Common stock par value $0.0001 per share Par value of Microvast common stock listed on Nasdaq

Warrant exercise price $11.50 per share Exercise price of redeemable warrants trading as MVSTW

CEO conversion date May 28, 2026 Date CEO delivered Notice of Conversion for full loan

CAO employment end date May 27, 2026 Date Eric N. Garcia ceased to be Chief Accounting Officer

Key Terms

convertible loan agreement, Notice of Conversion, Redeemable warrants, Emerging growth company, +1 more

5 terms

convertible loan agreement financial

"the Company entered into a $25.0 million convertible loan agreement (the “Loan Agreement”)"

A convertible loan agreement is a contract where a lender provides cash to a company as a loan but with an option to swap the loan balance for company shares instead of being repaid in cash. For investors, it matters because conversion can change ownership percentages, affect future share value and dilution, and determine whether the lender is treated like a creditor or a shareholder — like lending someone money with a ticket that can later be exchanged for part-ownership.

Notice of Conversion financial

"On May 28, 2026, Mr. Wu delivered a Notice of Conversion in respect of the full $25.0 million"

Redeemable warrants financial

"Redeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share"

A redeemable warrant is a tradable right that lets its holder buy a company’s shares at a fixed price before a set date, but the issuer has the contract power to cancel (redeem) the warrant early under agreed terms. For investors this matters because early redemption can force decision-making, change the timing of when new shares might be created, and affect potential gains or dilution—much like a store coupon that the issuer can cancel by paying you off instead of letting you use it.

Emerging growth company regulatory

"Emerging growth company Securities registered pursuant to Section 12(b) of the Act"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

What did Microvast (MVST) announce about its Chief Accounting Officer?

Microvast disclosed that Eric N. Garcia is no longer Chief Accounting Officer. The filing states that, on May 27, 2026, he ceased to be employed as Chief Accounting Officer of Microvast Holdings, Inc., without providing further detail on reasons or succession in this excerpt.

What is the size of the CEO’s convertible loan to Microvast (MVST)?

The CEO’s convertible loan has a principal amount of $25.0 million. Microvast previously entered into a $25.0 million convertible loan agreement with CEO and Chairman Yang Wu on May 28, 2024, later amending it on March 17, 2025 to extend the maturity date to May 28, 2026.

What action did Microvast’s CEO take regarding his $25 million loan?

CEO Yang Wu delivered a Notice of Conversion for the full $25.0 million principal. On May 28, 2026, he elected to convert the entire outstanding principal under the convertible loan agreement into shares of Microvast common stock, following the terms of that agreement.

When was the maturity date of Microvast’s convertible loan extended to?

The maturity date of the convertible loan was extended to May 28, 2026. The loan agreement with CEO Yang Wu, originally entered into on May 28, 2024, was amended on March 17, 2025 to move the maturity date to May 28, 2026.

On which exchange do Microvast (MVST) shares and warrants trade?

Microvast’s common stock and warrants trade on The Nasdaq Stock Market. The common stock, par value $0.0001 per share, trades under the symbol MVST, and redeemable warrants with an exercise price of $11.50 per share trade under the symbol MVSTW.

What type of securities are covered by Microvast’s MVSTW warrants?

MVSTW warrants are redeemable warrants exercisable for Microvast common stock. Each warrant is exercisable for shares of common stock at an exercise price of $11.50 per share, with both the common stock and warrants listed on The Nasdaq Stock Market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 05/28/2026 - 05:26 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 27, 2026

Microvast Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-38826

83-2530757

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS. Employer

Identification No.)

12603 Southwest Freeway, Suite 300

Stafford, Texas 77477

(Address of principal executive offices, including zip code)

281-491-9505

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.0001 per share	MVST	The NASDAQ Stock Market LLC
Redeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share	MVSTW	The NASDAQ Stock Market LLC

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.

Item 9.01 Financial Statement and Exhibits

(d) Exhibits

Exhibit No.	Description
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 28, 2026	MICROVAST HOLDINGS, INC.

	By:	/s/ Isida Tushe
	Name:	Isida Tushe
	Title:	President, General Counsel and Corporate Secretary

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Microvast CEO converts $25M loan; CAO departs

Rhea-AI Filing Summary

Positive

Negative