VinFast Auto Ltd. (VinFast) and Black Spade Acquisition Co. (Black Spade) announced on Aug 10 that an extraordinary general meeting (EGM) of Black Spade's shareholders had approved their previously announced business combination. The business merger is anticipated to be completed on August 14, 2023, according to a statement from VinFast.
Following such closing, VinFast will continue to exist as the combined company, and its common shares and warrants are anticipated to start trading on the Nasdaq Stock Market LLC (Nasdaq) on or around August 15, 2023, under the new ticker symbols "VFS" and "VFSWW," respectively.
"Black Spade shareholders have voted their confidence in VinFast with the voting results."
Thuy Le, Global Chief Executive Officer of VinFast, expressed pride in the accomplishments made thus far and eager anticipation for the exciting and promising opportunities that this collaboration will bring in the future.
Dennis Tam, Chairman and Co-CEO of Black Spade, said that the approval shows the company's shareholders' continued faith in the mission and future of the alliance between Black Spade and VinFast.
"Our shareholders overwhelmingly supported the proposals relating to the business combination, with approximately 99.99 percent of votes cast in favour of approving the business combination...We have moved a step closer to the thrilling goal of going public with VinFast, he said.