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 2023-06-02 at 12:41pm

Clover Leaf Capital Corp. (NASDAQ: CLOE) has entered into a definitive agreement to combine with Digital Ally, Inc.’s (NASDAQ: DGLY) ticketing platform Kustom Entertainment at a pro forma equity value of approximately $222.2 million. Kansas City, Kansas-based Kustom Entertainment is a primary and secondary ticket platform that manages wholly-owned subsidiaries TicketSmarter and Kustom 440. Transaction Overview Clover...

by Marlena Haddad on 2023-06-02 at 11:42am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: UK SPAC Ashington Innovation announces it will IPO on London Stock Exchange and Cheche Technology releases new business intelligence platform UK SPAC eyes £1.8m IPO in London UK SPAC Ashington Innovation has announced today...

by Nicholas Alan Clayton on 2023-06-02 at 11:13am

Seaport Global II (NASDAQ:SGII) has entered into a definitive agreement to combine with American Battery Materials (OTC Pink:BLTH) at an enterprise value of $225 million. The Greenwich, Connecticut-based is developing potential lithium and cobalt-mining sites in Utah. The combined company is expected to be up-listed to the Nasdaq once the deal is completed in the...

by Nicholas Alan Clayton on 2023-06-02 at 7:12am

Blue Ocean (NASDAQ:OTEC) announced this morning that it is pushing its extension vote scheduled for 11 am ET today to 2 pm ET, June 6. Shareholders at the special meeting are to vote on a proposal to allow Blue Ocean to automatically extend its transaction deadline up to 12 times in one-month increments from June...

by Marlena Haddad on 2023-06-01 at 5:33pm

Latest SPAC Liquidations: JAWS Hurricane JAWS Hurricane Acquisition Corporation (HCNE) to Liquidate on June 16 JAWS Hurricane Acquisition Corporation (Nasdaq: HCNE) today announced that its board of directors has determined not to proceed with a proposal to extend its corporate existence. As such, the Board has determined to cancel the special meeting of its stockholders,...

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