Vision Sensing Acquisition Corp. announces receipt

NEW YORK, June 4, 2024 (GLOBE NEWSWIRE) — Vision Sensing Acquisition Corp. (NASDAQ: VSACU, VSAC, VSACW) (“Business“) the acquired company intentionally informed today that on May 30, 2024, the Company received a written notification (“Announcement“) from the Listing Qualifications Department of the Nasdaq Stock Exchange (“Nasdaq”) indicating that because the Company has not yet filed a Form 10-Q for the period ending March 31, 2024, the Company is no longer in compliance with Listing Rule 5250(c)(1) (“Rule“), which requires the Company to timely file all required periodic financial reports with the Securities and Exchange Commission. The notice is only a notice of deficiency and not a notice of imminent delisting. The notification has no current impact on the quotations and trading of the Company’s securities on the Nasdaq global market.

The Notice indicates that, in accordance with the listing rules, the Company has 60 calendar days to present a plan to restore compliance. The Company intends to submit a plan to regain compliance with Exchange Listing Rule 5250(c)(1) within the required period. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice or until November 18, 2024 to regain compliance with the Rule. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision before the Nasdaq Hearing Panel.

The Company today filed Form 10-Q for the period ending March 31, 2024.

About Vision Sensing Acquisition Corp.

Vision Sensing Acquisition Corp. (“VSAC”) is a special purpose acquisition company (“TO SLEEP“), which was established to focus on the acquisition of vision detection technology (“VST“), including hardware solutions (chips/modules/systems), associated application software, artificial intelligence and other peripheral technologies that help integrate and/or complement VST applications. More information can be found at www.vision-sensing.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. VSAC’s actual results may differ from its expectations, estimates and projections and should not be rely on these forward-looking statements as predictions of future events. Words like “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should” , “believes,” “anticipates,” “potential,” “may” and “continues” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, risks and uncertainties described in reports and other documents filed publicly with the SEC by VSAC, including VSAC’s Form 10-K for the year ended December 31, 2022 filed with the SEC on March 24, 2023 and its most recent Form 10-Q filed with the SEC on May 15, 2023 and August 28, 2023. The risk factors listed are not exclusive. If one or more of these risks or uncertainties materialize or if the underlying assumptions prove incorrect, actual results may differ materially from those indicated or anticipated in such forward-looking statements. There may be additional risks of which VSAC currently knows or which VSAC believes are not currently material that could cause actual results to differ from those contained in forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. These forward-looking statements should not be relied upon as reflecting VSAC’s judgments as of any date subsequent to the date of this press release. VSAC undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they are made, except as required by law or applicable regulations.