Vision Sensing Acquisition Corp.
VSACU
NASDAQ Global Market11.62
USD
+0.12
- -
CIK
0001883983
ISIN
US92838J2024
CUSIP
92838J202
Return %
Stock
S&P500
1Y
4.87
18.21
3Y
14.26
63.29
5Y
15.28
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- George Peter Sobek
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 78 SW 7th Street Miami FL United States of America 33130
- IPO Date
- Nov 1, 2021
- CIK
- 0001883983
- Website
- vision-sensing.com
- Similar Companies
- Business
- Vision Sensing Acquisition Corp. (VSACU) is a blank-check special purpose acquisition company (SPAC) focused on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting companies in vision sensing technologies including hardware chip solutions, modules and systems, vision sensing technology-related application software, artificial intelligence, and other peripheral technologies that integrate or supplement such applications. Incorporated in 2021 and headquartered in Miami, Florida, the company is a subsidiary of Vision Sensing LLC and operated without significant ongoing business activities prior to identifying a target. Its core activities centered on raising capital through an initial public offering in November 2021 to pursue opportunities in industrial imaging, sensor communications, precision electronics, and related sectors serving markets in technology innovation, healthcare, defense, consumer electronics, and industrial automation. The company pursued several potential de-SPAC transactions, including a definitive agreement and plan of merger announced in January 2024 with Mediforum Co., Ltd., a South Korean developer of anti-dementia treatments such as PM012 for Alzheimer's disease, Parkinson's disease, and stroke, as well as health functional foods; this transaction valued the deal at approximately $280 million through a British Virgin Islands holding company structure but was terminated by the VSAC board on August 14, 2024. Subsequently, in August 2024, VSAC entered a non-binding letter of intent with Convergence CT, Inc. (CCT), a Delaware-incorporated provider of smart hospital information systems leveraging IoT and AI for workflow optimization and patient care management, valuing CCT at $135 million with $110 million upfront and an earn-out, targeting a NASDAQ listing post-combination; no binding agreement materialized. Earlier efforts included a planned merger with Newsight Imaging Ltd. valued at $215 million, which did not proceed. To facilitate these pursuits, VSAC secured multiple one-month extensions of its initial business combination deadline—up to six under its amended charter—through sponsor deposits into its trust account, including extensions to September 3, 2024, October 3, 2024, and November 3, 2024, amid Nasdaq compliance challenges and a delisting determination in early 2024 that it appealed. Ultimately, without completing a transaction by the November 3, 2024, deadline under its existing charter, the sponsor did not deposit the final required extension fee, prompting VSAC on October 8, 2024, to notify Nasdaq of its intent to voluntarily delist; trading in its units (VSACU), ordinary shares (VSAC), and warrants (VSACW) was suspended after October 25, 2024, followed by filing of Form 25 with the SEC and initiation of dissolution and liquidation proceedings to redeem remaining public shares from trust proceeds. As of October 18, 2024, approximately 1,133,691 public shares remained eligible for redemption.