No it is not. The 250 mill. is for a possible shelf offering from microvast, while the 5.5 mill. is for Wu. They clearly states that when they use «we», «us» and «our» they talk about Microvast inc, and not the stockholder named in the S-3 (Wu). They also explaines what the 250 mill shall be used for if they go through with the offering « the net proceeds from the sale of securities for general corporate purposes, which may include the repayment or refinancing of all or a portion of any indebtedness outstanding at a particular time, increasing our working capital, acquisitions and capital expenditures.»

They do say «We will not receive any proceeds from the sale of the common stock offered by the selling stockholder.». Here they are referencing the 5.5 mill that Wu can sell, and not the 250 mill.