Vision Sensing Acquisition in an 8-K announced the termination of its merger agreement with Newsight Imaging, an Israeli company that develops advanced CMOS image sensor chips for 3D machine vision and spectral analysis. The decision was mutual according to the filing and was based on “challenging global economic conditions.”
The $380 million deal was announced in August 2022.
The SPAC in October won shareholder approval for a deadline extension that would have given the parties until May 3, 2024 to complete the deal.
Redemptions of 264,443 shares at that time further whittled away at the SPAC’s trust, which saw a loss of 65% ahead of the last extension vote in May.
The SPAC raised $101.2 million in a November 2021 IPO. Read more.
