Public EV startup with an indicted CEO is looking to raise an additional $100 million [TechCrunch]
Thunder Power Holdings, Inc. (AIEV)
Company Research
Source: TechCrunch
of them are struggling or defunct . But that's not quite true. A startup called Thunder Power Holdings went public on the Nasdaq exchange in June through a SPAC, and is now trying to raise up to $100 million more through a share sale deal All this is happening even as the CEO of the company, Wellen Sham, has been indicted by the Taiwanese government on 11 criminal charges. It's all right there in Thunder Power's filings with the Securities and Exchange Commission, which are required for all public companies. Thunder Power spells it out on page 46 of this amended S-4 filing from April, where it explains that the Taipei District Prosecutor's Office brought charges against Sham in 2022. The case is now before the Taipei's District Court Criminal Division. Sham is accused of a number of securities-related violations related to Electric Power Technology Limited, another company where he's chairman. It has some connections to Thunder Power. Sham owns roughly 75% of Thunder Power's sto
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AIEV
Sec Filings
- 9/16/24 - Form 8-K
- 9/9/24 - Form SC
- 9/6/24 - Form 8-K
- AIEV's page on the SEC website