Vision Sensing Acquisition announces extension to consummate combination

Vision Sensing Acquisition announced that on November 30, 2023, its sponsor, Vision Sensing, LLC, deposited $60,000 into the Company’s trust account, which is the sum that the Company must pay to extend the date by which the Company must consummate its initial business combination from December 3, 2023, to January 3, 2024. The Company has issued to its sponsor a non-interest bearing, unsecured promissory note in the principal amount of $60,000 as consideration for the funding. This is the second 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 with Newsight Imaging Ltd., an Israeli company and Newsight MergerSub, Inc., a Delaware corporation and wholly owned subsidiary of Newsight, pursuant to a business combination agreement dated August 30, 2022, pursuant to which: Merger Sub will merge into the Company resulting in the Company becoming a wholly-owned subsidiary of Newsight, Newsight will register as a publicly traded company, Newsight’s existing shares will be split to facilitate a fully diluted value per Newsight share of US$10.00, the Company’s common stock will be exchanged on a one-for-one basis for Newsight Ordinary Shares and warrants to purchase the Company’s common stock will instead become eligible to purchase the same number of Newsight Ordinary Shares at the same exercise price and for the same exercise period. The combined company’s common stock is expected to trade on the Nasdaq Capital Market under the ticker symbol “NSIM”.