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Black Spade Acquisition Co - $BSAQ STOCK NEWS

Welcome to our dedicated page for Black Spade Acquisition Co news (Ticker: $BSAQ), a resource for investors and traders seeking the latest updates and insights on Black Spade Acquisition Co stock.

Black Spade Acquisition Co (BSAQ) is a Special Purpose Acquisition Company (SPAC) focused on effecting business combinations, commonly known as a blank check company. Established by Black Spade Capital, which manages a global portfolio of diverse cross-border investments, BSAQ aims to identify and merge with promising businesses to unlock value and create growth opportunities.

Recently, Black Spade Acquisition Co announced it would be transferring the listing of its units, Class A ordinary shares, and warrants from the NYSE to the NYSE American LLC. This move, driven by more favorable listing thresholds on the NYSE American, took effect on June 21, 2023. The decision comes in light of potential redemptions of the Company's Class A ordinary shares in connection with the vote to extend the deadline for completing its initial business combination.

BSAQ has made significant strides in its operations, most notably the proposed business combination with VinFast Auto Pte. Ltd. The U.S. Securities and Exchange Commission (SEC) declared effective the registration statement for this merger, which values VinFast at an enterprise value of $27 billion and an equity value of $23 billion. VinFast, a leading Vietnamese electric vehicle manufacturer, is committed to creating a sustainable future through its portfolio of electric SUVs, e-scooters, and e-buses, operating in Vietnam, North America, and soon, Europe.

The Extraordinary General Meeting (EGM) of Black Spade's shareholders approved the business combination with VinFast on August 10, 2023, and the transaction closed on August 14, 2023. Following this, VinFast's ordinary shares and warrants began trading on the Nasdaq under the ticker symbols 'VFS' and 'VFSWW' respectively, marking a significant milestone in VinFast's global expansion.

Moreover, VinFast has already started construction on a new electric vehicle manufacturing site in North Carolina, which underscores its ambitious growth plans and commitment to the EV revolution.

Black Spade Acquisition Co continues to leverage its strong foundation and strategic partnerships to drive value and growth. Learn more at Black Spade Acquisition Co.

Rhea-AI Summary
VinFast's shares and warrants will begin trading on the Nasdaq on August 15, 2023 under ticker symbols 'VFS' and 'VFSWW' respectively.
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Black Spade Acquisition Co to voluntarily delist from NYSE American and become a wholly owned subsidiary of VinFast. VinFast's shares and warrants to be traded on Nasdaq starting August 15, 2023.
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VinFast and Black Spade Acquisition Co announce that the SEC has approved the registration statement for their business combination. The transaction values VinFast at an enterprise value of $27 billion and an equity value of $23 billion. The listing of VinFast is expected to occur in August 2023, subject to shareholder approvals.
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FAQ

What is Black Spade Acquisition Co?

Black Spade Acquisition Co (BSAQ) is a Special Purpose Acquisition Company (SPAC) established to effect business combinations, founded by Black Spade Capital.

What recent changes has BSAQ made to its stock listing?

BSAQ transferred its listing from the NYSE to the NYSE American LLC on June 21, 2023, for more favorable listing thresholds.

What is the significance of the merger with VinFast?

The merger with VinFast, valuing the company at $27 billion, marks a significant step in VinFast's global expansion and BSAQ's growth strategy.

When did BSAQ shareholders approve the merger with VinFast?

The merger was approved by BSAQ shareholders at an Extraordinary General Meeting (EGM) on August 10, 2023.

What are BSAQ's new stock symbols on the Nasdaq?

Following the merger, VinFast’s ordinary shares and warrants began trading under the ticker symbols 'VFS' and 'VFSWW' respectively.

What kind of investments does Black Spade Capital manage?

Black Spade Capital manages a global portfolio consisting of a wide spectrum of cross-border investments.

Where can I find more information about BSAQ?

More information about BSAQ can be found on their official website: Black Spade Acquisition Co.

What is the mission of VinFast?

VinFast aims to drive the global smart electric vehicle revolution by manufacturing and exporting electric SUVs, e-scooters, and e-buses.

Where is VinFast building its new EV manufacturing site?

VinFast has started construction on a new electric vehicle manufacturing site in North Carolina.

What are the current projects of Black Spade Acquisition Co?

Currently, BSAQ is focused on the successful integration and expansion of VinFast Auto Pte. Ltd. following their recent business combination.

Black Spade Acquisition Co

NYSE:BSAQ

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3.16M
498.5%
0.57%
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