SPACInsider Logo
Vision Sensing Acquisition Corp. (VSAC) Postpones Extension Vote
by Marlena Haddad on 2023-04-24 at 3:35pm

Vision Sensing Acquisition Corp. (NASDAQ: VSAC) announced that it has postponed its special meeting, originally scheduled to be held on Thursday, April 27, until 9:00 a.m. EST on Monday, May 1.

In connection with the postponement, VSAC has extended its redemption deadline to 5:00 p.m. EDT on Thursday, April 27, 2023.

At the upcoming meeting, VSAC stockholders will vote on a proposal to extend the SPAC’s completion deadline from May 3 to November 3. If the proposal is approved, VSAC can obtain up to six 1-month extensions to the deadline to complete a business combination provided that its sponsor will deposit into the trust the lesser of $100,000 or $0.045 per share for each one-month extension.

If VSAC’s stockholders do not approve the extension, then VSAC will be required to liquidate on May 3.

The SPAC also noted that a 1% U.S. federal excise tax could be imposed on them in connection with redemptions. For the avoidance of doubt, the proceeds placed in Vision Sensing’s trust and the interest earned thereon will not be used to pay for any excise tax due.

Vision Sensing announced its $380 million business combination with chip-maker Newsight in August 2022. Ness Ziona, Israel-based Newsight has developed a series of lidar and spectral imaging products that serve applications in the automotive, manufacturing and medical sectors.

Recent Posts
by Marlena Haddad on 2023-06-05 at 12:39pm

Power & Digital Infrastructure II (NASDAQ: XPDB) has entered into a definitive agreement to combine with water harvesting company Montana Technologies at a pro forma enterprise value of approximately $500 million. Ronan, Montana-based Montana Technologies manufactures a dual-chamber design intended for a water harvesting process to solve legacy thermal constraints. The parties expect to close the deal in...

by Marlena Haddad on 2023-06-05 at 12:21pm

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Carbon Revolution to supply its carbon fiber wheels for 2024 Range Rover, and Vast Solar awards Worley key engineering contracts Carbon Revolution to Supply its 23-inch Carbon Fiber Wheels for 2024 Range Rover Sport...

by Nicholas Alan Clayton on 2023-06-05 at 11:27am

Phoenix Biotech (NASDAQ:PBAX) has entered into a definitive agreement to combine with pre-cliinical drug developer CERo at an enterprise value of $112 million. San Francisco-based CERo is developing a line of potential cancer treatments and expects to file its first investigational new drug (IND) application in 2024. The combined company is expected to trade on...

by Marlena Haddad on 2023-06-05 at 9:42am

Hammerhead Energy Inc. (NASDAQ: HHRS), which combined with Decarbonization Plus IV, has announced the results of its substantial issuer bid that expired at 5:00 p.m. ET on June 2. Under the bid, HEI offered to purchase for cancellation up to 20 million of its warrants, representing approximately 70% of its total number of issued and outstanding warrants, to purchase...

by Kristi Marvin on 2023-06-03 at 1:58pm

Terms Tracker for the Week Ending June 2, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As is typical of slow holiday weeks, this past week for SPACs was no exception. To wit, there were zero new S-1s filed, zero amendments...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved