Welcome to our dedicated page for Vision Sensing Acquisition news (Ticker: VSAC), a resource for investors and traders seeking the latest updates and insights on Vision Sensing Acquisition stock.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) is a blank check company, also known as a special purpose acquisition company (SPAC). Formed with the intention of facilitating a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, VSAC stands out in the financial markets due to its strategic objectives and forward-looking approach.
Recently, Vision Sensing Acquisition Corp. announced a definitive Agreement and Plan of Merger with Mediforum Co., Ltd, a renowned biotechnology company based in Korea. Mediforum specializes in the research and development of ethical drugs, diagnostic reagents, and strategic application products. This proposed business combination aims to leverage the strengths of both entities, promising significant advancements in the biotech sector.
Upon closing of the merger, the combined entity is expected to be publicly listed on NASDAQ under a new ticker symbol, highlighting a new chapter in their corporate journey. This move reflects VSAC’s commitment to identifying and partnering with innovative firms that have the potential to deliver substantial value to shareholders.
VSAC’s current operations and financial strategies are geared towards ensuring successful mergers and acquisitions, thereby creating robust investment opportunities for stakeholders. The company's recent partnership with Mediforum is a testament to its adeptness in recognizing and aligning with high-potential companies in growth industries.
For further inquiries:
- Chankyu Kim, Chairman and Founder, Mediforum (kimchankyu@gmediforum.com)
- Jae Eon Jung, CEO, Mediforum (jejung@gmediforum.com)
- Jason Wong, Chairman and CEO, Norwich Capital Limited (enquiry@norwichhk.com)
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Vision Sensing Acquisition Corp. (NASDAQ: VSAC) filed Form 10-Q with the SEC, curing filing delinquency and staying suspension of securities. Nasdaq Hearing Panel decision awaited on April 4, 2024.
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Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) has extended the date for its initial business combination with Mediforum Co. Ltd., a Korean company, by depositing $60,000 into its trust account. This is the fourth of up to six one-month extensions authorized by the company's amended and restated certificate of incorporation. The extension provides the company with additional time to complete the merger agreement with Mediforum.
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Vision Sensing Acquisition Corp. (VSAC) has announced an extension of the date to consummate its initial business combination to March 3, 2024, with its sponsor depositing $60,000 into the trust account by February 3, 2023. The Company intends to issue a non-interest bearing, unsecured promissory note to its sponsor as consideration for the funding. This extension is the fourth of up to six one-month extensions authorized under its amended certificate of incorporation. The extension provides additional time to complete its initial business combination with Mediforum Co. Ltd., a Korean company, pursuant to a merger agreement dated January 12, 2024.
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Vision Sensing Acquisition Corp. issues an update regarding the previously announced staff determination letter from Nasdaq, notifying the Company of non-compliance with market value and total holders requirements. The Company submitted an appeal and a detailed Compliance Plan to regain compliance, with a hearing scheduled for April 4, 2024. The deficiencies are common for SPACs at the Company's current stage, and the recently announced business combination with Mediforum Co., Ltd. is expected to automatically resolve these deficiencies.
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Vision Sensing Acquisition Corp. (VSAC) received a staff determination letter from Nasdaq, stating the intention to delist the company's securities due to non-compliance with listing requirements. The company has not regained compliance with the market value and total holders requirements. Unless an appeal is requested, trading of the company's shares will be suspended on January 26, 2024.
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Mediforum, a leading biotechnology company in Korea, specializing in ethical drug development, is merging with Vision Sensing Acquisition Corp. (VSAC) to become a publicly listed company on NASDAQ under a new ticker symbol. Mediforum is focused on developing drugs for Alzheimer’s Disease and Chemotherapy-Induced Peripheral Neuropathy, with PM012 and MF018 in Phase 2b and Phase 2 clinical trials, respectively. The pre-money enterprise value of Mediforum is US$250 million, with plans for additional financing of up to US$50 million from private placement of equity, debt, or alternative financing.
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Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) announced a $60,000 deposit into the Company’s trust account to extend the date for its initial business combination. This is the third extension authorized by the amended certificate of incorporation.
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Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) announced an extension of the deadline for its initial business combination from January 3, 2024, to February 3, 2024. The sponsor, Vision Sensing, LLC, will deposit $60,000 into the company's trust account by January 3, 2024, in exchange for a non-interest bearing, unsecured promissory note. This extension allows the company more time to find an acquisition target and complete its initial business combination.
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Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) announced a $60,000 deposit into the trust account to extend the date for its initial business combination with Newsight Imaging Ltd. This is the second of up to six one-month extensions authorized under the amended certificate of incorporation. The Business Combination Agreement involves merging with Newsight and registering as a publicly traded company, with the combined company's common stock expected to trade under the ticker symbol 'NSIM' on the Nasdaq Capital Market.
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Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) has extended the date for its initial business combination with Newsight Imaging Ltd. and Newsight MergerSub, Inc. The company has received an extension until January 3, 2024, and its sponsor, Vision Sensing, LLC, will deposit $60,000 into the trust account by December 4, 2023. This extension provides the company with additional time to complete the Business Combination, with the combined company's common stock expected to trade on the Nasdaq Capital Market under the ticker symbol 'NSIM'.
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FAQ
What is the current stock price of Vision Sensing Acquisition (VSAC)?
The current stock price of Vision Sensing Acquisition (VSAC) is $11.775 as of October 25, 2024.
What is the market cap of Vision Sensing Acquisition (VSAC)?
The market cap of Vision Sensing Acquisition (VSAC) is approximately 48.4M.
What is Vision Sensing Acquisition Corp.?
Vision Sensing Acquisition Corp. (VSAC) is a blank check company formed to facilitate mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations.
What is the latest news about VSAC?
VSAC recently announced a definitive Agreement and Plan of Merger with Mediforum Co., Ltd, a biotechnology company based in Korea.
Who is Mediforum Co., Ltd?
Mediforum Co., Ltd is a biotechnology company specializing in the research and development of ethical drugs, diagnostic reagents, and strategic application products.
What will happen after the merger with Mediforum?
Following the merger, the combined company is expected to be listed on NASDAQ under a new ticker symbol.
What is a blank check company?
A blank check company, or SPAC, is formed with the purpose of acquiring or merging with other businesses to take them public.
How does VSAC create value for shareholders?
VSAC aims to identify and partner with high-potential companies in growth industries, facilitating successful mergers and acquisitions.
Who are the key contacts for the merger with Mediforum?
Key contacts include Chankyu Kim (Chairman and Founder of Mediforum), Jae Eon Jung (CEO of Mediforum), and Jason Wong (Chairman and CEO of Norwich Capital Limited).
What is the primary business of VSAC?
VSAC's primary business is to act as a blank check company focused on facilitating mergers and acquisitions.
When is the merger with Mediforum expected to be completed?
The exact date for the merger's completion is subject to the terms and conditions outlined in the Merger Agreement.
What sectors does VSAC focus on for potential mergers?
VSAC focuses on high-potential companies across various growth industries, including biotechnology.
Vision Sensing Acquisition Corp.
Nasdaq:VSAC
VSAC Rankings
VSAC Stock Data
48.40M
1.61M
41.7%
86.46%
0.06%
Shell Companies
Blank Checks
United States of America
MIAMI