Vision Sensing Acquisition announced that it is extending its termination deadline by one month to Feb. 3, 2024 with a $60,000 deposit into trust.
The SPAC earlier this month terminated a 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.” That $380 million deal was announced in August 2022.
The SPAC in October won shareholder approval for a deadline extension until May 3, 2024 to complete a 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 had raised $101.2 million in a November 2021 IPO. Read more.
