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Vision Sensing Acquisition Corp (symbol: VSACW) is a blank check company formed to facilitate business combinations. The company aims to merge, acquire assets, or reorganize with potential businesses. Recently, VSAC announced a merger agreement with Mediforum Co., Ltd, a biotechnology company based in Korea. If the proposed business combination is completed, Mediforum will become a publicly listed company, expected to trade on NASDAQ under a new ticker symbol. Mediforum specializes in ethical drugs, diagnostic reagents, and strategic application products.
The merger agreement with Mediforum signifies a strategic move by Vision Sensing Acquisition Corp to expand its portfolio and enter the biotechnology sector. The combined company's listing on NASDAQ will provide visibility and access to capital markets, potentially driving growth and development opportunities for both entities.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) has announced a payment to extend its deadline for completing an initial business combination. The company's sponsor, Vision Sensing, , deposited $51,016.10 into the trust account on August 2, 2024. This extension moves the deadline from September 3, 2024, to October 3, 2024.
This marks the fifth of six possible one-month extensions allowed under the company's recently amended certificate of incorporation. The extension provides Vision Sensing Acquisition Corp. with additional time to finalize a business combination. The amendment allowing these extensions was made on April 30, 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. (VSAC) has terminated its agreement with Mediforum Co., and entered into a non-binding letter of intent with Convergence CT, Inc. (CCT) for a business combination. The deal values CCT at $135 million, with $110 million paid upfront and the remainder subject to an earn-out. CCT specializes in smart hospital information systems and optimizing hospital workflows using IoT and AI. The combined company is expected to trade on NASDAQ post-closing. The transaction includes a 6-month lock-up period for issued shares and the formation of a 5-member board of directors. The parties aim to sign a binding agreement by August 31, 2024.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) has announced a significant development in its pursuit of an initial business combination. The company's sponsor, Vision Sensing, , has deposited $51,016.10 into the trust account to extend the deadline for completing the combination from August 3, 2024, to September 3, 2024. This marks the fourth of six possible one-month extensions allowed under the company's recently amended certificate of incorporation.
The extension is important for Vision Sensing Acquisition Corp. as it provides additional time to finalize its Business Combination with Mediforum Co. , a Korean company. This merger agreement, initially dated January 12, 2024, is now given more time for completion. The move demonstrates the company's commitment to ensuring a successful merger and highlights the complex nature of international business combinations in the SPAC sector.
Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW), a special purpose acquisition company, has announced its intention to extend the deadline for completing its initial business combination from August 3, 2024, to September 3, 2024. This marks the fourth of up to six one-month extensions authorized under the company's amended certificate of incorporation. To facilitate this extension, the company's sponsor, Vision Sensing, , plans to deposit $51,016.10 into the trust account by July 3, 2024. In return, the company will issue a non-interest bearing, unsecured promissory note to the sponsor. This extension is aimed at providing additional time for Vision Sensing to complete its initial business combination, which is currently planned with Mediforum Co. , a Korean company, under an Agreement and Plan of Merger dated January 12, 2024.
Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) has successfully applied to migrate from the Nasdaq Global Market to the Nasdaq Capital Market, effective July 19, 2024. This move comes after a series of events, including a delisting notice in January 2024, regaining compliance with Listing Rule 5250(c)(1) in February, and a Nasdaq Hearings Panel granting an extension to transfer listings by July 15, 2024. The company has taken steps to meet Nasdaq Capital Market requirements, including converting 2,530,000 Series B shares into Series A shares to comply with the Market Value of Listed Securities Requirement. VSAC's management presented a viable plan to regain compliance while pursuing a business combination, demonstrating their commitment to maintaining their Nasdaq listing.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) has announced it has extended the deadline to complete its initial business combination to August 3, 2024. The extension was made possible by a $51,016.10 deposit made by its sponsor into the company’s trust account on July 2, 2024. This marks the third out of six possible one-month extensions permissible under the company's amended certificate of incorporation as of April 30, 2024.
The purpose of the extension is to provide the company additional time to finalize its merger with Mediforum Co. , a Korean company, as per the merger agreement signed on January 12, 2024. The company aims to use this extra time to ensure a smooth and successful completion of the business combination.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) announced its intention to extend the deadline for its initial business combination from July 3, 2024, to August 3, 2024.
The company plans to notify Continental Stock Transfer & Trust Company and will deposit $51,016.10 into the trust account by July 3, 2024. This second one-month extension, of up to six, is authorized under the amended certificate of incorporation as of April 30, 2024.
To fund the extension, Vision Sensing, , the sponsor, will receive a non-interest-bearing, unsecured promissory note. The extension allows more time to finalize the planned merger with Mediforum Co. , a Korean company, under the business combination agreement dated January 12, 2024.
Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) announced on June 4, 2024, that it received a deficiency notice from Nasdaq on May 30, 2024, due to its failure to timely file its Form 10-Q for the first quarter of 2024. The company is now non-compliant with Nasdaq Listing Rule 5250(c)(1). The notice does not currently affect the listing or trading of VSAC's securities. The company has 60 days to submit a compliance plan to Nasdaq, which could extend the compliance deadline to November 18, 2024. VSAC filed the delayed Form 10-Q on June 4, 2024.
Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) announced it has extended the deadline to consummate its initial business combination to July 3, 2024. The extension was facilitated by a $51,016.10 deposit made by the company's sponsor, Vision Sensing, , into the company's trust account. This payment was made in exchange for a non-interest bearing, unsecured promissory note. This is the second of six possible one-month extensions allowed under the company's amended and restated certificate of incorporation. The extension provides additional time to finalize the merger with Mediforum Co. , a Korean company, under the Agreement and Plan of Merger signed on January 12, 2024.
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