Vision Sensing Acquisition in a proxy filing seeks to push its completion deadline to Nov. 3 so it can continue working to complete its deal with Mediforum. The target is a biomedical company developing treatments for Alzheimer’s and memory enhancement.
The merger consideration is $250 million in stock. If the deal is approved, the combined company intends to list on the Nasdaq.
Established in 2015, Mediforum is headquartered in Seoul, South Korea.
Vision Sensing in October won shareholder approval for six monthly extensions. 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 prior extension vote nearly a year ago.
The SPAC had raised $101.2 million in a November 2021 IPO. Read more.
