Vision Sensing Acquisition said it intends to extend the completion date to July 3 and its sponsor will deposit $51,016.10 into trust by June 3. The SPAc will issue a promissory note to the sponsor in the same amount as the deposit.
This is the second of six available monthly extension.
Vision Sensing in January announced a deal with Mediforum, a biomedical company developing treatments for Alzheimer’s and memory enhancement. Established in 2015, Mediforum is headquartered in Seoul, South Korea.
The merger consideration is $250 million in stock.
If the deal is approved, the combined company intends to list on the Nasdaq. Read more.
