Vietnamese EV maker VinFast has successfully completed its Special Purpose Acquisition Company (SPAC) merger with Black Spade Acquisition Company and will begin trading on the Nasdaq stock market on August 15, Electrek reports.
The merger’s completion comes shortly after Black Spade Acquisition Company shareholders voted in favor of the merger. This marks the culmination of a two-year journey for the Vietnamese EV automaker to become a publicly traded company in the US.
Having filed the initial paperwork with the U.S. Securities and Exchange Commission last December, VinFast collaborated with Blade Spade for the SPAC merger’s approval, leading to its public listing as “VFS” and “VFSWW” on the Nasdaq.
Starting August 15, VinFast will trade on the Nasdaq as “VFS.” With the merger approved, Blade Spade becomes a wholly-owned subsidiary of VinFast and will be delisted from the NYSE.
VinFast’s global CEO Madame Thuy Le commented on the merger, “Becoming a US-listed company marks a significant milestone in VinFast’s global expansion. More than just a transaction on the stock market, going public reflects a powerful vote of confidence in our vision and potential, as well as fulfills our pledge to make smart, safe, and environmentally friendly electric vehicles accessible to everyone.”
Photo by VanderWolf Images on Shutterstock
Read More: Vietnamese EV Maker VinFast Aims To Take On Tesla, Mercedes And BMW With Its 10-Year Warranty Plan
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