Vision Sensing Acquisition registered to offer 8.8 million units at $10 each. A unit consists of one share of common stock and one-half of a warrant. Whole wrrants would be redeemable for a share at $11.50.
The new SPAC plans to target companies with operations in vision sensing technologies (“VST”), including hardware chip solutions (such as chips, modules and systems), VST-related application software, artificial intelligence and other peripheral technologies that assist to integrate and/or supplement VST applications.
Vision Sensing is led by Chairman and CEO George Peter Sobek, who most recently was deputy chief compliance officer and money laundering reporting officer of APAC, Citadel Group, including Citadel Asset Management and Citadel Securities.
EF Hutton is sole book-running manager of the offering. The underwriters have a 45-day option to purchase up to an additional 1.32 million units to cover any over-allotments.
The SPAC has applied for a listing on the Nasdaq under VSACU. Read more.
