Vision Sensing Acquisition Corp (VSAC), a NASDAQ-listed SPAC, announces a non-binding Letter of Intent (LOI) with Convergence CT, Inc. (CCT) for a business combination. CCT specializes in healthcare data integration and smart hospital solutions. The transaction, valued at $135 million, will see $110 million transferred upfront as equity to existing CCT shareholders, with an additional earn-out based on performance. This merger will aid CCT’s NASDAQ debut, expanding opportunities in the healthcare sector. Notably, VSAC agreed to terminate an earlier merger agreement with Mediforum Co., Ltd., deeming it impractical. Advisors for the deal include ARC Group for CCT and EF Hutton for VSAC. The planned business combination is expected to finalize within 45 days.
Healthcare Technology, SPACs (Special Purpose Acquisition Companies), Capital Markets,United States, Asia (Japan and Malaysia)
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