TẠP CHÍ ĐIỆN TỬ
VinFast signs business combination arrangement with Black Spade
US Securities and Exchange Commission approves registration statement, with a listing to come in August.
Vietnamese carmaker VinFast and the Black Spade Acquisition Co. announced on July 28 that the US Securities and Exchange Commission (SEC) had approved the registration statement from VinFast for a proposed business combination with Black Spade. The latter’s extraordinary general meeting of shareholders (EGM) to finalize the approval of the arrangement is scheduled for August 10.
The business combination values VinFast at $27 billion with an equity value of $23 billion. Subject to the necessary shareholder approvals and customary closing conditions, the transaction is anticipated to be completed and VinFast is expected to be listed in August.
“Today represents a remarkable milestone in advancing VinFast’s presence in the US, as we move towards our proposed US listing,” said Ms. Thuy Le, Global CEO of VinFast. “Along with this exciting step, today we also celebrate the start of construction of our electric vehicle (EV) factory in North Carolina. These achievements will help accelerate our commitment to the global green mobility revolution and our mission to help consumers make the switch to an EV easier and more accessible, while also opening a strategic capital-raising avenue for our global ambitions.”
“The declaration from the SEC is a significant step towards the successful completion of the business combination between Black Spade and VinFast,” said Mr. Dennis Tam, Chairman and co-CEO of Black Spade. “We have diligently sought out a partner that aligns with our vision, and we are confident that this merger will position us for long-term success. We anticipate that the global lifestyle paradigm shift towards electric mobility will accelerate further and that VinFast will continue to distinguish itself as a trailblazer in the global EV arena. We are delighted to cooperate with the entire VinFast leadership team as they bring their highly-anticipated range of EV models to the global market, instigating a significant transformation in the EV landscape.”
