Vision Sensing Acquisition announces plan of merger with Korea's Mediforum

Dzmitry Dzemidovich/iStock via Getty Images Vision Sensing Acquisition, ( NASDAQ: VSAC ) a special purpose acquisition company, has entered into a definitive agreement and plan of merger with Korea based Mediforum Co. Mediforum's flagship product, PM012, is currently undergoing Phase 2b clinical trials for Alzheimer's disease with plans for subsequent Phase 3 trials in Korea and the U.S.

Additionally, PM012 is exploring indication expansion for Parkinson’s disease and stroke, showcasing its potential in addressing broader neurological challenges. Mediforum’s current management team is expected to continue running the combined company after the transaction. Under the terms of the merger agreement, a new company will be formed in British Virgin Islands for the purpose of participating in the transactions.

The consideration for the transaction shall be $250,000,000. Shareholders of the BVI Company will receive 25,000,000 Class A Ordinary Shares of PubCo, valued at $10.00 per share. Source: Press Release More on Vision Sensing Acquisition Corp. Vision Sensing Acquisition extends period to consummate initial business combination Financial information for Vision Sensing Acquisition Corp..