Israeli semiconductor developer Newsight Imaging intends to go public through a merger with SPAC Vision Sensing Acquisition Corp. ( NASDAQ: VSAC ).
The deal values Newsight at $215M and the combined company at $380M . Newsight could received gross proceeds of up to $143M, including $103M from Vision Sensing’s trust account, assuming no redemptions, and up to $40M in financing.
The merger is expected to close in Q4, with shares trading on Nasdaq under the symbol NSIM after the closing.
Based in Israel, Newsight is a developer of 3D machine vision and spectral analysis chips, including LiDAR sensors. The company also sells water quality sensors through its subsidiary Watersight and pathogen detection kits through its Virusight unit.
Miami-based Vision Sensing held an initial public offering in November 2021, raising $88M.
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Israeli semiconductor developer Newsight to merge with SPAC Vision Sensing