Welcome to our dedicated page for Vision Sensing Acquisition news (Ticker: VSAC), a resource for investors and traders seeking the latest updates and insights on Vision Sensing Acquisition stock.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) is a blank check company, also known as a special purpose acquisition company (SPAC). Formed with the intention of facilitating a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, VSAC stands out in the financial markets due to its strategic objectives and forward-looking approach.
Recently, Vision Sensing Acquisition Corp. announced a definitive Agreement and Plan of Merger with Mediforum Co., Ltd, a renowned biotechnology company based in Korea. Mediforum specializes in the research and development of ethical drugs, diagnostic reagents, and strategic application products. This proposed business combination aims to leverage the strengths of both entities, promising significant advancements in the biotech sector.
Upon closing of the merger, the combined entity is expected to be publicly listed on NASDAQ under a new ticker symbol, highlighting a new chapter in their corporate journey. This move reflects VSAC’s commitment to identifying and partnering with innovative firms that have the potential to deliver substantial value to shareholders.
VSAC’s current operations and financial strategies are geared towards ensuring successful mergers and acquisitions, thereby creating robust investment opportunities for stakeholders. The company's recent partnership with Mediforum is a testament to its adeptness in recognizing and aligning with high-potential companies in growth industries.
For further inquiries:
- Chankyu Kim, Chairman and Founder, Mediforum (kimchankyu@gmediforum.com)
- Jae Eon Jung, CEO, Mediforum (jejung@gmediforum.com)
- Jason Wong, Chairman and CEO, Norwich Capital Limited (enquiry@norwichhk.com)
Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) has successfully applied to migrate from the Nasdaq Global Market to the Nasdaq Capital Market, effective July 19, 2024. This move comes after a series of events, including a delisting notice in January 2024, regaining compliance with Listing Rule 5250(c)(1) in February, and a Nasdaq Hearings Panel granting an extension to transfer listings by July 15, 2024. The company has taken steps to meet Nasdaq Capital Market requirements, including converting 2,530,000 Series B shares into Series A shares to comply with the Market Value of Listed Securities Requirement. VSAC's management presented a viable plan to regain compliance while pursuing a business combination, demonstrating their commitment to maintaining their Nasdaq listing.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) has announced it has extended the deadline to complete its initial business combination to August 3, 2024. The extension was made possible by a $51,016.10 deposit made by its sponsor into the company’s trust account on July 2, 2024. This marks the third out of six possible one-month extensions permissible under the company's amended certificate of incorporation as of April 30, 2024.
The purpose of the extension is to provide the company additional time to finalize its merger with Mediforum Co. , a Korean company, as per the merger agreement signed on January 12, 2024. The company aims to use this extra time to ensure a smooth and successful completion of the business combination.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) announced its intention to extend the deadline for its initial business combination from July 3, 2024, to August 3, 2024.
The company plans to notify Continental Stock Transfer & Trust Company and will deposit $51,016.10 into the trust account by July 3, 2024. This second one-month extension, of up to six, is authorized under the amended certificate of incorporation as of April 30, 2024.
To fund the extension, Vision Sensing, , the sponsor, will receive a non-interest-bearing, unsecured promissory note. The extension allows more time to finalize the planned merger with Mediforum Co. , a Korean company, under the business combination agreement dated January 12, 2024.
Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) announced on June 4, 2024, that it received a deficiency notice from Nasdaq on May 30, 2024, due to its failure to timely file its Form 10-Q for the first quarter of 2024. The company is now non-compliant with Nasdaq Listing Rule 5250(c)(1). The notice does not currently affect the listing or trading of VSAC's securities. The company has 60 days to submit a compliance plan to Nasdaq, which could extend the compliance deadline to November 18, 2024. VSAC filed the delayed Form 10-Q on June 4, 2024.
Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) announced it has extended the deadline to consummate its initial business combination to July 3, 2024. The extension was facilitated by a $51,016.10 deposit made by the company's sponsor, Vision Sensing, , into the company's trust account. This payment was made in exchange for a non-interest bearing, unsecured promissory note. This is the second of six possible one-month extensions allowed under the company's amended and restated certificate of incorporation. The extension provides additional time to finalize the merger with Mediforum Co. , a Korean company, under the Agreement and Plan of Merger signed on January 12, 2024.
Vision Sensing Acquisition Corp. (NASDAQ: VSAC) announced its intention to extend the deadline for completing its initial business combination from June 3, 2024, to July 3, 2024. This marks the second of up to six allowable one-month extensions. The sponsor, Vision Sensing, , will deposit $51,016.10 into the company's trust account by June 3, 2024, and will receive a non-interest bearing, unsecured promissory note in return. This extension is part of the company's plan to finalize its merger with Mediforum Co. , a Korean company, as per the Mediforum Business Combination Agreement signed on January 12, 2024.
Vision Sensing Acquisition Corp. announced the payment of a fee to extend the period to consummate its initial business combination with Mediforum Co. from May 3, 2024, to June 3, 2024. The Company's sponsor deposited $51,016.10 into the trust account for the extension, with the option for up to six one-month extensions. This move provides the Company with more time to finalize the Business Combination as per the Merger Agreement.
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