Vision Sensing Acquisition postponed today’s shareholder meeting until Oct. 25 at noon.
VSAC also reopened the redemption period until 5 p.m. Oct. 24.
VSAC revised its trust amendment to authorize Continental Stock Transfer and Trust to move the remaining funds in trust, after any redemptions, into an interest-bearing demand deposit account.
The SPAC seeks shareholder approval for up to six monthly extensions on its deadline, from Nov. 3 up to May 3, 2024.
Vision Sensing has a merger agreement with Newsight Imaging, an Israeli company that develops advanced CMOS image sensor chips for 3D machine vision and spectral analysis. Newsight’s depth camera sensors for machine vision serve verticals such as Mobile & Metaverse, Robotics, Industry 4.0 and Automotive Safety. The $380 million deal was announced in August 2022.
However, the SPAC lost 65% of its trust ahead of the last extension vote in May.
The SPAC raised $101.2 million in a November 2021 IPO. Read more.
