Vision Sensing Acquisition, a blank check company targeting businesses developing vision sensing technologies, filed on Friday with the SEC to raise up to $88 million in an initial public offering.
The Miami, FL-based company plans to raise $88 million by offering 8.8 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Vision Sensing Acquisition would command a market value of $114 million.
The company is led by CEO and Chairman George Sobek, who most recently served as the Deputy Chief Compliance Officer and Money Laundering Reporting Officer of APAC at Citadel Group. The company plans to target businesses with operations in vision sensing technologies (VST), including hardware chip solutions, VST-related application software, AI, and other peripheral technologies that assist to integrate and/or supplement VST applications. While the company has not selected a target geography, it does not intend to target businesses located in China or Hong Kong.
Vision Sensing Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol VSACU. EF Hutton is the sole bookrunner on the deal.
