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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.
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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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Vision Sensing Acquisition Corp. has deposited $60,000 into its trust account to extend the deadline for its initial business combination with Newsight Imaging Ltd. The extension provides the company with additional time until December 3, 2023. The company's common stock will be exchanged for Newsight Ordinary Shares on a one-for-one basis, and the combined company's stock is expected to trade on the Nasdaq Capital Market under the ticker symbol 'NSIM'.
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Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) has announced an extension of the deadline for its initial business combination from November 3, 2023, to December 3, 2023. The company's sponsor, Vision Sensing, LLC, will deposit $60,000 into the trust account by November 3, 2023. This extension allows the company more time to complete its business combination with Newsight Imaging Ltd. The combined company's common stock is expected to trade on the Nasdaq Capital Market under the ticker symbol 'NSIM'.
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Vision Sensing Acquisition Corp. (VSAC) has postponed its Special Meeting of Stockholders and reopened the period for shareholders to submit their shares for redemption. The company is also revising the Trust Amendment to authorize the transfer of remaining funds into an interest-bearing demand deposit account. VSAC filed a Proxy Statement for the Special Meeting, which includes proposals to extend the deadline for a business combination and make corresponding amendments to the Trust Agreement. If approved, public stockholders can redeem their Class A common stock. Holders of 264,443 shares have already exercised their right to redeem. VSAC's planned business combination with Newsight Imaging Ltd. is pending interim financing, and Newsight has reduced operations. VSAC is working to assist Newsight in raising funds to resume full operations and consummate the business combination.
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FAQ
What is the current stock price of Vision Sensing Acquisition Warrants (vsacw)?
The current stock price of Vision Sensing Acquisition Warrants (vsacw) is $0.019 as of September 3, 2024.
What is Vision Sensing Acquisition Corp's core business?
Vision Sensing Acquisition Corp is a blank check company formed for facilitating business combinations.
What recent announcement did VSAC make?
VSAC announced a definitive Agreement and Plan of Merger with Mediforum Co., Ltd.
Who is Mediforum Co., Ltd, and what is their specialization?
Mediforum Co., Ltd is a biotechnology company based in Korea that specializes in ethical drugs, diagnostic reagents, and strategic application products.
Where is the combined company expected to be listed post-closing of the merger?
The combined company is expected to trade on NASDAQ under a new ticker symbol.
What are the contact details for individuals at Mediforum Co., Ltd and Norwich Capital Limited?
For Mediforum: Chankyu Kim (kimchankyu@gmediforum.com) and Jae Eon Jung (jejung@gmediforum.com). For Norwich Capital Limited: Jason Wong (enquiry@norwichhk.com).
Vision Sensing Acquisition Corp. Warrants
Nasdaq:VSACW
VSACW Rankings
VSACW Stock Data
1.61M
Shell Companies
Blank Checks
United States of America
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