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Newsight Imaging Plans Public Listing

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Newsight Imaging Ltd. has filed a Registration Statement on Form F-4 with the U.S. Securities and Exchange Commission pertaining to its business combination agreement with Vision Sensing Acquisition Corp. (VSAC), a special purpose acquisition company. The Aug. 30 agreement outlined Newsight’s path to public listing in which a newly organized, wholly owned subsidiary of Newsight would merge with VSAC, resulting in VSAC becoming a wholly owned subsidiary of Newsight. Newsight would then register as a publicly traded company with existing shares to be split to facilitate a fully diluted value per Newsight share of $10.  

The transaction values Newsight at $215 million, which together with $102.5 million in cash in VSAC’s trust account results in a combined pro forma enterprise value of $317.5 million, assuming no redemptions in the business combination and prior to the proceeds of any additional financing.

The transaction will be subject to approval by shareholders of Newsight and VSAC and is expected to close in the first quarter of 2023, at which point the combined company’s common stock is expected to trade on the Nasdaq Capital Market under the ticker symbol NSIM.
Dec 2022
machine vision
Interpretation of an image of an object or scene through the use of optical noncontact sensing mechanisms for the purpose of obtaining information and/or controlling machines or processes.
Businessimagingmachine visioncamerasmergerSPACspecial purpose acquisition companypublicSharesNewsight ImagingVision Sensing Acquisition CorpacquisitionSECfilingRegistration StatementAmericasIsraelMiddle EastThe News Wire

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