VinFast electric car VF8 on the road in the US. — Photo courtesy of VinFast

Vietnamese VinFast Automaker and Black Spade Acquisition Company announced on Thursday that its business combination with Black Spade is expected to close on August 14.

Following the closing of the merger, VinFast will remain as the combined company, and its ordinary shares and warrants are expected to begin trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the new ticker symbols “VFS” and “VFSWW,” respectively, on or around August 15, 2023.

“The voting results today are a vote of confidence in VinFast from Black Spade shareholders. I am proud of the achievements we have accomplished so far and filled with eager anticipation for the exciting and promising opportunities that this collaboration will bring in the future,” said Thủy Lê, Global CEO of VinFast Auto Ltd.

Dennis Tam, Chairman and Co-CEO, Black Spade Acquisition Co, said: “We are thrilled to announce that our shareholders have overwhelmingly approved the Business Combination, demonstrating their continued confidence in the vision and potential of the partnership between Black Spade and VinFast. The proposals related to the Business Combination received resounding support from our shareholders, with approximately 99.99 per cent of votes cast in favour of approving the Business Combination.”

VinFast recently broke ground on its first US production facility in North Carolina and continues to try and expand to new global markets. — VNS