Vision Sensing Acquisition Corp. Announces Intention To Extend Period to Consummate Initial Business Combination To April 3, 2024

Author: Benzinga Newsdesk | February 28, 2024 01:03pm

Vision Sensing Acquisition Corp. (NASDAQ:VSACU, VSAC, VSACW))))) (the "Company") a special purpose acquisition company, announced today that it has notified Continental Stock Transfer & Trust Company that it intends to extend the date by which the Company must consummate its initial business combination from March 3, 2024, to April 3, 2024, and that its sponsor, Vision Sensing, LLC, intends to deposit into the Company's trust account an aggregate of $60,000 by March 3, 2024 (the "Extension"). In connection with the Extension, the Company intends to issue to its sponsor a non-interest bearing, unsecured promissory note in the principal amount of $60,000 as consideration for the funding. This will be the fourth of up to six one-month extensions that the Company is authorized to obtain under its amended and restated certificate of incorporation as recently amended on October 25, 2023.

 

The Extension provides the Company with additional time to complete its initial business combination (the "Business Combination") with Mediforum Co. Ltd., a Korean company ("Mediforum"), pursuant to a merger agreement dated January 12, 2024 (as it may be amended and/or restated from time to time, the "Merger Agreement").

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