Vision Sensing Acquisition Corp. Announces Intention to Extend the Period to Consummate Its Initial Business Combination to October 3, 2024
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) has announced its intention to extend the deadline for completing its initial business combination from September 3, 2024, to October 3, 2024. This marks the fifth of six possible one-month extensions authorized under the company's amended certificate of incorporation. To facilitate this extension, Vision Sensing, , the company's sponsor, plans to deposit $51,016.10 into the trust account by July 3, 2024. In exchange, the company will issue a non-interest bearing, unsecured promissory note to the sponsor for the same amount. This extension aims to provide Vision Sensing Acquisition Corp. with additional time to finalize an initial business combination.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) ha annunciato la sua intenzione di estendere la scadenza per il completamento della sua prima combinazione aziendale dal 3 settembre 2024 al 3 ottobre 2024. Questo segna la quinta di sei possibili estensioni di un mese autorizzate dall'emendato certificato di incorporazione dell'azienda. Per facilitare questa estensione, Vision Sensing, sponsor dell'azienda, prevede di deporre $51,016.10 nel conto fiduciario entro il 3 luglio 2024. In cambio, l'azienda emetterà una promessa di pagamento non garantita e senza interessi allo sponsor per lo stesso importo. Questa estensione ha l'obiettivo di fornire a Vision Sensing Acquisition Corp. ulteriore tempo per finalizzare una prima combinazione aziendale.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) ha anunciado su intención de extender la fecha límite para completar su combinación de negocios inicial del 3 de septiembre de 2024 al 3 de octubre de 2024. Esto marca la quinta de seis posibles extensiones de un mes autorizadas bajo el certificado de incorporación enmendado de la empresa. Para facilitar esta extensión, Vision Sensing, el patrocinador de la empresa, planea depositar $51,016.10 en la cuenta fiduciaria antes del 3 de julio de 2024. A cambio, la empresa emitirá una nota promisoria no garantizada y sin intereses al patrocinador por la misma cantidad. Esta extensión tiene como objetivo proporcionar a Vision Sensing Acquisition Corp. tiempo adicional para finalizar una combinación de negocios inicial.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC)가 초기 사업 결합 완료 마감일을 2024년 9월 3일에서 2024년 10월 3일로 연장할 계획을 발표했습니다. 이는 회사의 개정된 법인증명서에 따라 허가된 여섯 번의 한 달 연장 중 다섯 번째에 해당합니다. 이 연장을 원활하게 진행하기 위해, 회사의 후원자인 Vision Sensing은 2024년 7월 3일 이전에 신탁 계좌에 $51,016.10를 예치할 계획입니다. 그 대가로, 회사는 같은 금액에 대해 후원자에게 무이자, 무담보 약속어음을 발행할 것입니다. 이 연장은 Vision Sensing Acquisition Corp.이 초기 사업 결합을 완료할 수 있는 추가 시간을 제공하기 위한 것입니다.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) a annoncé son intention de prolonger la date limite pour finaliser sa combinaison d'affaires initiale du 3 septembre 2024 au 3 octobre 2024. Cela marque la cinquième des six extensions possibles d'un mois autorisées par le certificat de constitution modifié de l'entreprise. Pour faciliter cette extension, Vision Sensing, le sponsor de l'entreprise, prévoit de dépôt de 51 016,10 $ sur le compte fiduciaire d'ici le 3 juillet 2024. En échange, l'entreprise émettra une note de promesse non garantie et sans intérêt au sponsor pour le même montant. Cette extension vise à donner à Vision Sensing Acquisition Corp. un temps supplémentaire pour finaliser une combinaison d'affaires initiale.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) hat seine Absicht angekündigt, die Frist für den Abschluss seines ersten Unternehmenszusammenschlusses vom 3. September 2024 auf den 3. Oktober 2024 zu verlängern. Dies markiert die fünfte von insgesamt sechs möglichen einmonatigen Verlängerungen, die im geänderten Gesellschaftsvertrag des Unternehmens genehmigt wurden. Um diese Verlängerung zu erleichtern, plant Vision Sensing, der Sponsor des Unternehmens, bis zum 3. Juli 2024 $51,016.10 auf das Treuhandkonto einzuzahlen. Im Gegenzug wird das Unternehmen eine zinsenfreie, unbesicherte Schuldanerkennung an den Sponsor in derselben Höhe ausstellen. Diese Verlängerung zielt darauf ab, der Vision Sensing Acquisition Corp. zusätzliche Zeit zu geben, um einen ersten Unternehmenszusammenschluss abzuschließen.
- Extension provides more time to complete initial business combination
- Sponsor to deposit $51,016.10 into trust account
- Fifth extension out of six possible, indicating potential difficulties in finding suitable merger target
- Additional funding required for extension, potentially impacting available capital
NEW YORK, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) (the “Company”) a special purpose acquisition company, announced today that it has notified Continental Stock Transfer & Trust Company that it intends to extend the date by which the Company must consummate its initial business combination from September 3, 2024 to October 3, 2024, and that its sponsor, Vision Sensing, LLC, intends to deposit into the Company’s trust account an aggregate of
The Extension provides the Company with additional time to complete an initial business combination.
About Vision Sensing Acquisition Corp.
Vision Sensing Acquisition Corp. (“VSAC”) is a Special Purpose Acquisition Company (“SPAC”) that has been established to focus on the acquisition of a private technology company.
EF Hutton, division of Benchmark Investments, LLC, is serving as Capital Market Advisor to VSAC and ARC Group Limited is serving as Financial Advisor to VSAC.
Forward-Looking Statements
This press release contains, and certain oral statements made by representatives of VSAC, Mediforum, and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. VSAC’s and Mediforum’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, VSAC’s and Mediforum’s expectations with respect to future performance and anticipated financial impacts of the business combination, the satisfaction of the closing conditions to the business combination and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of VSAC or Mediforum and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement relating to the proposed business combination; (2) the outcome of any legal proceedings that may be instituted against VSAC or Mediforum following the announcement of the Merger Agreement and the transactions contemplated therein; (3) the inability to complete the business combination, including due to failure to obtain approval of the shareholders of VSAC or other conditions to closing in the Merger Agreement; (4) delays in obtaining or the inability to obtain necessary regulatory approvals (including approval from insurance regulators) required to complete the transactions contemplated by the Merger Agreement; (5) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement or could otherwise cause the transaction to fail to close; (6) the inability to obtain or maintain the listing of the post-acquisition company’s ordinary shares on Nasdaq following the business combination; (7) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; (8) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (9) costs related to the business combination; (10) changes in applicable laws or regulations; (11) the possibility that Mediforum or the combined company may be adversely affected by other economic, business, and/or competitive factors; and (12) other risks and uncertainties to be identified in the Form S-4 or Form F-4 filed by VSAC (when available) relating to the business combination, including those under “Risk Factors” therein, and in other filings with the Securities and Exchange Commission (“SEC”) made by VSAC and Mediforum. VSAC and Mediforum caution that the foregoing list of factors is not exclusive. VSAC and Mediforum caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither VSAC or Mediforum undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this press release.
Additional Information and Where to Find It
In connection with the proposed transaction, the Mediforum Business Combination Agreement calls for VSAC and Mediforum to cause a registration statement on Form F-4 or S-4 to be filed with the SEC, which will include a proxy statement to be distributed to VSAC's stockholders in connection with VSAC's solicitation for proxies for the vote by VSAC's stockholders in connection with the proposed transaction and other matters as described in the registration statement, as well as a prospectus relating to Mediforum’s securities to be issued in connection with the proposed transaction. VSAC’s stockholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, in connection with VSAC’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed transaction, because these documents will contain important information about VSAC, Mediforum, and the proposed transaction. After the registration statement is filed and declared effective, VSAC will mail a definitive proxy statement and other relevant documents to its stockholders as of the record date to be established for voting on the proposed transaction. Stockholders may also obtain a copy of the preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, as well as other documents filed with the SEC regarding the proposed transaction and other documents filed with the SEC, without charge, at the SEC’s website located at www.sec.gov.
Participants in the Solicitation
VSAC, Mediforum, and their respective directors, executive officers, and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from VSAC’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of VSAC's stockholders in connection with the proposed transaction will be set forth in the proxy statement/prospectus included in the Registration Statement to be filed with the SEC in connection with the proposed transaction. You can find more information about VSAC's directors and executive officers in VSAC’s final prospectus related to its initial public offering. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Stockholders, potential investors, and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the potential transaction and does not constitute an offer to sell or the solicitation of an offer to buy any securities of VSAC, Mediforum or the combined company, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
FAQ
What is the new deadline for Vision Sensing Acquisition Corp (VSAC) to complete its initial business combination?
How much money will the sponsor deposit for the extension of VSAC's business combination deadline?
How many extensions has Vision Sensing Acquisition Corp (VSAC) used so far?
When was Vision Sensing Acquisition Corp's (VSAC) certificate of incorporation last amended?
