SPAC Vision Sensing Acquisition prices $88 million IPO, targeting sensing technology

Vision Sensing Acquisition, a blank check company targeting businesses developing vision sensing technologies, raised $88 million by offering 8.8 million units at $10.

Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50

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, and before that worked at Jane Street Asia.

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. Potential VST applications include machine vision, automotive sensing, spectral analysis, and smart cities. While the company has not selected a target geography, it will not seek businesses located in China or Hong Kong.

The Miami, FL-based company is listing on the Nasdaq under the symbol VSACU. EF Hutton acted as sole bookrunner on the deal.