Black Spade Closes VinFast Acquisition

VinFast Auto and Black Spade Acquisition announced the completion of their business combination. VinFast shares and began trading today on the Nasdaq under symbols VFS and VFSWW.

From announcement to closing, the deal took barely three months. This, despite the Vietnam maker posting lower than expected revenues for the first quarter — and after VinFast voluntarily recalledsaid it is recalling all of the first batch of vehicles it shipped to the United States last year following a safety warning issued by U.S. authorities. The recall came just two weeks after the SPaC deal was announced at an enterprise value of $27 billion. Read more.

Source: Black Spade Closes VinFast Acquisition