Vision Sensing Acquisition Corp. - VSAC STOCK NEWS

Vision Sensing Acquisition Corp. (VSAC) announced an extension of its business combination deadline from February 3, 2023, to May 3, 2023. This extension allows for additional time to finalize the merger with Newsight Imaging Ltd. In conjunction, the sponsor Vision Sensing, LLC, will deposit $1,012,000 into the Company’s trust account, equivalent to $0.10 per public unit sold in the initial public offering. This decision aims to ensure compliance with Nasdaq listing requirements while enhancing operational stability in the merger process.

Newsight Imaging Ltd., an innovator in semiconductor technology, will showcase its advancements at the Drive TLV Smart Mobility Events in California on January 30, 2023, and Georgia on February 1, 2023. Michal Cooper-Kozlovich, the Director of Strategic Partnerships, will present alongside Israeli mobility startups within the Drive TLV FastLane program. Newsight aims to highlight its eTOF™ LiDAR 3 technology and its partnership with First International Computer for 3D vision systems aimed at automotive safety. The FastLane program has helped 50 startups secure over $2 billion in funding and foster commercial collaborations. For more details, visit their website.

Watersight Ltd., a joint venture between Mekorot and Newsight Imaging, won first place in the Sustainable Smart Cities category at the Extreme Tech Challenge during the CES 2023 conference. The accolade recognized their AquaRing™ smart water monitoring system, a device that provides real-time water quality analysis for various industries. The competition showcased eight innovative pitches from hundreds of applicants, emphasizing AquaRing's potential in smart city applications amidst growing global water management challenges. The company is actively engaging in pilot programs with multiple global firms to refine its technology.

Newsight Imaging has partnered with First International Computer (FIC) to co-develop advanced eTOF (enhanced-Time-Of-Flight) based 3D vision systems for the automotive safety market. This collaboration aims to meet the increasing demand for accurate and cost-effective 3D depth imaging. The companies formalized this effort through a Memorandum of Understanding (MoU), enhancing their R&D capabilities. Newsight's NSI9000 depth sensor will be pivotal in this partnership. The expected outcome is rapid product development to improve automotive safety standards, with the transaction anticipated to close in early 2023.

Newsight Imaging is set to participate in the 2023 Consumer Electronics Show (CES) from January 5-8 in Las Vegas, where it will exhibit its latest technology, the eTOF™ LiDAR 3, featuring advanced capabilities at competitive pricing. The company will also showcase Watersight, its joint venture with Mekorot, which has been recognized as a finalist in the XTC Startup Competition for its AquaRing™ technology aimed at sustainable smart cities. Interested parties can schedule meetings at the Israeli Pavilion.

Vision Sensing Acquisition Corp. (NASDAQ: VSAC) has announced a significant step in its merger with Newsight Imaging Ltd. (a leading Israeli imaging company) by filing a Registration Statement with the SEC. This document outlines the proposed business combination, initially agreed upon on August 30, 2022, which values Newsight at US$215 million. The merger will transform VSAC into a subsidiary of Newsight, with an expected completion date in Q1 2023, pending shareholder approval. The combined company will trade on Nasdaq under the ticker symbol NSIM.

Newsight Imaging Ltd. has been selected for the 2023 FastLane program, enhancing its collaboration with top automotive brands. This program, hosted by DRIVE TLV, aims to advance smart mobility startups by facilitating partnerships with industry leaders like Volvo and Honda. Over the past five years, 50 startups have collectively raised over $2B through the program. Newsight is known for its innovative 3D imaging and spectral analysis sensors, crucial for advancements in automotive technology. This selection marks a significant step in fostering long-term relationships with automotive partners.

Watersight, a joint venture of MEKOROT and Newsight Imaging, has commenced field testing of its revolutionary AquaRing water monitoring system at a MEKOROT facility in Northern Israel. The pilot program has expanded to include additional global water companies, enhancing collaboration in water quality monitoring. The AquaRing offers real-time data analytics through advanced sensors and machine learning technologies, providing significant improvements in water management. This initiative aims to position Watersight as a leader in smart water monitoring solutions.