VinFast has leaped over its final hurdle, a formality on the very least, to finalize its SPAC Merger with Black Spade Acquisition Firm and listing on the Nasdaq inventory market. All is formally full, enabling VinFast’s new ticker symbols to start scrolling tomorrow.
Right now’s information comes simply days after shareholders of Black Spade Acquisition Firm ($BSAQ) voted overwhelmingly in supported of a beforehand proposed SPAC Merger with VinFast to listing on the Nasdaq. Final week’s vote was a significant milestone in a two-plus yr journey of the Vietnamese EV automaker changing into a publicly traded firm within the US – vowing to take action earlier than we even obtained a glimpse at its first all-electric fashions.
Since submitting the preliminary paperwork with the SEC this previous December, VinFast has been working alongside new accomplice Blade Spade to get a SPAC merger accredited, paving the best way for tomorrow’s public itemizing.
Shareholders have accredited and the enterprise mixture is now official, leaving nothing else however to hitch the US inventory market as “VFS” and “VFSWW.”
VinFast will start buying and selling below inventory ticker “VFS”
Starting August 15, VinFast will start buying and selling on the Nasdaq below the ticker symbols talked about above. with the accredited enterprise mixture now full, Blade Spade now turns into a wholly-owned subsidiary of VinFast and can be delisted from the NYSE in consequence.
VinFast’s world CEO Madame Thuy Le spoke to the finished merger and the corporate’s long-fought for public inventory itemizing:
Changing into a US-listed firm marks a big milestone in VinFast’s world enlargement. Greater than only a transaction on the inventory market, going public displays a strong vote of confidence in our imaginative and prescient and potential, in addition to fulfills our pledge to make sensible, protected, and environmentally pleasant electrical automobiles accessible to everybody. I sincerely respect the fantastic collaboration with Black Spade as our revered companions who’re becoming a member of us in our ‘boundless collectively’ journey in direction of a greener future for us and future generations.
That’s all for now. We should wait and see how the market feels in regards to the SPAC merger when it opens tomorrow.
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