Core Viewpoint - Vision Sensing Acquisition Corp. (VSAC) will have its securities suspended from trading on Nasdaq after October 25, 2024, due to a voluntary delisting request and failure to deposit required extension fees [2][3]. Group 1: Securities Suspension and Delisting - The Company notified Nasdaq on October 8, 2024, about the non-deposit of required extension fees and requested a voluntary delisting [2]. - Nasdaq will 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 2: Liquidation and Redemption Amount - The per-share redemption price for the class A common stock is approximately $11.84, with payments scheduled for October 30, 2024 [3]. - The Company will retain $100,000 from the trust account for dissolution expenses and will pay $88,102 for taxes before distributing the redemption amount [3]. - As of October 18, 2024, there were 1,133,691 remaining public shares, and the trust account balance was approximately $13,427,746.07 [3]. Group 3: Redemption Process - Holders of public shares must present their share or unit certificates to receive the redemption amount, while beneficial owners in "street name" will not need to take action [4]. - There will be no redemption rights or liquidating distributions for the Company's warrants, which will expire worthless [4]. Group 4: Company Overview - Vision Sensing Acquisition Corp. is a Special Purpose Acquisition Company (SPAC) focused on acquiring vision sensing technologies, including hardware solutions, application software, and artificial intelligence [7].
Vision Sensing Acquisition Corp. Announces Securities Suspension Date and Redemption Amount