Vision Sensing Acquisition extended its merger deadline by three months to Feb. 3, 2023. The company’s sponsor deposited approximately $1 million (10 cents a share) into the trust for the extra time.
Vision Sensing in August announced a merger agreement with Israel-based Newsight Imaging Ltd., a semiconductor company that develops 3D machine vision sensors and spectral vision chips. The deal has a pro forma enterprise value of $380 million.
In addition to the $102.5 million held in the SPAC’s trust (assuming no redemptions), proceeds would potentially include up to $40 million in pre-transaction financing, a PIPE, or other alternatives. Read more.
