Vision Sensing Acquisition Corp. (NASDAQ: VSAC) announced this afternoon that it has mutually terminated its business combination with chip-maker Newsight.
The parties cited “challenging global economic conditions” as the reason for nixing the deal, without providing additional details.
Vision Sensing inked the $380 million deal with Newsight in August 2022. Vision Sensing planned to finance the deal with about $102.7 million from its trust, but saw an aggregate of 86.7% of its trust redeemed from previous extensions, leaving it with $14.9 million. The SPAC aimed to supplement this with a $30 million PIPE and $10 million in other pre-close financing, which hadn’t been finalized.
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.
Vision Sensing hasn’t indicated whether it’ll pursue another potential combination, but it hasn’t confirmed plans to liquidate either. It has until May 3, a five-month window, to identify a suitable target if it opts to proceed.
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...