Vision Sensing Acquisition Corp. (VSAC), a Special Purpose Acquisition Company (SPAC) listed on NASDAQ, has announced that it plans to extend the deadline for consummating its initial business combination from July 3, 2024, to August 3, 2024. The extension is backed by Vision Sensing, LLC, which will deposit $51,016.10 into VSAC’s trust account. This marks the second of potentially six one-month extensions permitted under VSAC’s amended certificate of incorporation. VSAC is in the process of merging with Mediforum Co., Ltd, a South Korean biotechnology firm known for its Alzheimer’s and neuropathic pain treatments. Mediforum’s flagship product, PM012, is in Phase 2b trials for Alzheimer’s disease, with plans for subsequent trials in Korea and the U.S. Advisors for the transaction include Norwich Capital Limited, American General Business Association & SME Overseas IPO Capital Group, Loeb & Loeb LLP, and Next Law LLP. Forward-looking statements caution against relying on future performance predictions due to various risk factors. A registration statement will be filed with the SEC, and Mediforum anticipates a subsequent Nasdaq listing.

Biotechnology, Financial Services,United States, South Korea