Here is a rewritten version of the content in a provocative and controversial manner:
EV Startup Thunder Power’s IPO: A Recipe for Disaster
Despite the recent wave of EV startups going bankrupt or defunct, Thunder Power Holdings, a company led by a CEO with 11 criminal charges against him, has just gone public on the Nasdaq exchange through a SPAC merger. And now, they’re trying to raise up to $100 million more through a share sale deal that’s nothing short of a ticking time bomb.
CEO Under Fire
Thunder Power’s CEO, Wellen Sham, has been indicted by the Taiwanese government on 11 criminal charges related to securities violations. But you wouldn’t know that from the company’s SEC filings, which somehow gloss over the fact that Sham is accused of using company resources to pay for a seminar and issuing a false press release to spread rumors and misinformation.
No Cars, No Revenue, No Problem
Thunder Power claims to be working on electric vehicles, but their SEC filings reveal that they haven’t produced a single car. In fact, they’ve lost over $35 million since inception and have no revenue to speak of. But hey, they do have prototypes built by an affiliate in China, right?
The Real Agenda
Thunder Power’s recent IPO was just the beginning. Now, they’re teaming up with Westwood Capital Group LLC, an investment bank with a history of shady deals, to sell up to $100 million worth of shares. The catch? Thunder Power can’t force Westwood to buy more shares if the price drops below $1. And at the current price of less than $0.50, it’s a recipe for disaster.
A House of Cards
Thunder Power’s entire operation seems to be built on a foundation of lies and deception. Their CEO is facing criminal charges, they haven’t produced a single car, and they’re relying on an investment bank with a questionable track record to prop up their stock price. It’s only a matter of time before this house of cards comes crashing down.
Investors Beware
If you’re thinking of investing in Thunder Power, think again. The company’s SEC filings are riddled with red flags, and their leadership is more concerned with lining their own pockets than building a sustainable business. It’s time to take a closer look at the real motives behind Thunder Power’s IPO and the questionable deals they’re making.
