Brief: Newsight Imaging To Go Public Via Combination With Vision Sensing

Vision Sensing Acquisition

30/08/2022 14:38

Aug 30 (Reuters) - Newsight Imaging Ltd:
    * NEWSIGHT IMAGING LTD., AN INNOVATIVE ISRAELI SEMICONDUCTOR
COMPANY, ANNOUNCES SIGNING OF DEFINITIVE AGREEMENT FOR GOING
PUBLIC VIA BUSINESS COMBINATION WITH NASDAQ LISTED VISION
SENSING ACQUISITION CORP.
    * VISION SENSING ACQUISITION CORP - TRANSACTION VALUES
NEWSIGHT AT
US$215 MILLION
    * VISION SENSING ACQUISITION CORP- COMBINED COMPANY WILL BE
LED BY
ELI ASSOOLIN, NEWSIGHT IMAGING CEO
    * VISION SENSING ACQUISITION CORP - COMBINED COMPANY
ANTICIPATES
BEING LISTED ON NASDAQ CAPITAL MARKET UNDER SYMBOL "NSIM"
    * VISION SENSING ACQUISITION CORP- NEWSIGHT'S CURRENT
MANAGEMENT
AND EXISTING EQUITY HOLDERS WILL ROLL A MINIMUM OF 95% OF THEIR
EQUITY INTO COMBINED CO
    * VISION SENSING ACQUISITION CORP- ESTIMATED CURRENT
SHAREHOLDERS
OF NEWSIGHT WILL OWN ABOUT 53% OF ISSUED, OUTSTANDING SHARES IN
COMBINED CO AT CLOSING
    * VISION SENSING ACQUISITION CORP - COMBINED CO TO RECEIVE
GROSS
PROCEEDS OF UP TO $143.7 MILLION AT CLOSING OF TRANSACTION BY
VSAC'S SHAREHOLDERS, ADDITIONAL FINANCING OF UP TO US$40 MILLION

Source text for Eikon:  ID:nGNX6v1YdS 
Further company coverage:  VSAC.O 

 ((Reuters.Briefs@thomsonreuters.com;))