Core Viewpoint - Vision Sensing Acquisition Corp. (VSAC) is unable to complete its initial business combination and will proceed with dissolution and liquidation due to the failure to deposit the required extension fee [1][3]. Group 1: Company Operations - The Sponsor, Vision Sensing LLC, did not deposit the necessary extension fee by October 3, 2024, preventing VSAC from extending the deadline for its initial business combination [1]. - As of October 18, 2024, the per-share redemption price for the class A common stock was approximately $11.92, with a total of about $13,515,848.07 in the trust account [5]. - The company will redeem 100% of the Offering Shares at a price based on the amount in the trust account, minus up to $100,000 for dissolution expenses [3][5]. Group 2: Delisting Process - On October 8, 2024, VSAC notified Nasdaq of its intention to seek a voluntary delisting due to the failure to deposit the required fees [2]. - Nasdaq is expected to file a Form 25 with the U.S. Securities and Exchange Commission (SEC) to initiate the delisting process, which will take effect ten days after the filing [2]. Group 3: Liquidation Details - Following the redemption of shares, the company will dissolve and liquidate, subject to the approval of remaining stockholders and the Board [3]. - The company will cease all operations except those necessary for winding up its business after October 21, 2024 [6].
Vision Sensing Acquisition Corp. Announces Delisting and Subsequent Liquidation