SPAC Vision Sensing Acquisition to Liquidate After Failing to Close a Deal

Dow Jones10-22

By Stephen Nakrosis

Special purpose acquisition company Vision Sensing Acquisition said Monday it would liquidate, as it was unable to consummate an initial business combination by a Nov. 3 deadline.

The company said it expects the Nasdaq Stock Market will seek a voluntary delisting. The company also said after Oct. 21 it would cease all operations except for the purpose of winding up.

As of Oct. 18, the per-share redemption price for the class A shares of the company's common stock was about $11.92, the company said, adding the price may be subject to certain adjustments.

In August, the company said it mutually terminated a business combination deal with biotechnology company Mediforum. At the same time, it said it entered a non-binding letter of intent to acquire software company Converge CT.

Vision Sensing Acquisition filed for its initial public offering in September of 2021. At the time, the company said it planned to focus its search for an initial business combination target on companies with operations in the vision sensing technologies, including hardware and software companies.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 21, 2024 17:08 ET (21:08 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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