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Black Spade Acquisition Co

All articles tagged with #black spade acquisition co

business3 years ago•1 min saved

VinFast's $27 Billion SPAC Merger Takes EV Maker Public in the US

Vietnamese automaker VinFast plans to go public via a SPAC merger with Black Spade Acquisition Co, valuing the company at $27 billion with an equity value of $23 billion. The merger is expected to close in the second half of 2023. VinFast may offer up to $50 million worth of "free bonus" ordinary shares to employees if certain conditions are met. The move is seen as a way for VinFast to raise capital for its global expansion ambitions.

via CarScoops|

#automotive-industry #black-spade-acquisition-co #business

business3 years ago•2 min saved

VinFast secures $23B US IPO through SPAC deal.

VinFast Auto has entered into a business combination agreement with Black Spade Acquisition Co. that values the Vietnamese automaker at an enterprise value of approximately $27 billion and an equity value of $23 billion. The transaction is expected to close in the second half of 2023 and will allow VinFast to go public in the US, which is part of its global expansion strategy. VinFast has already delivered four different EV models in Vietnam and is expanding into Europe and North America.

via Electrek.co|

#black-spade-acquisition-co #business #ev

business3 years ago•2 min saved

VinFast secures $23-27B valuation through SPAC merger for US IPO.

VinFast, the Vietnam-based electric vehicle manufacturer, will merge with publicly listed Black Spade Acquisition Co. to go public through a stock offering in the U.S. The deal values VinFast at $27 billion, and current shareholders will own 99% of the combined company. Black Spade is a "blank check" company that raised $169 million in its own U.S. IPO in 2021. The merger will enable VinFast to access public markets more quickly than a standard IPO. The deal is expected to close in the second half of 2023, and VinFast recently secured additional capital commitments in Vietnam to fund expansion and building a U.S. factory.

via WRAL TechWire|

#black-spade-acquisition-co #business #electric-vehicles