Vietnamese electric automaker, VinFast revealed Friday its intentions to be listed in the United States next month through a blank-check company. This decision comes after receiving approval from the SEC for its proposed business combination.
The company announced in May its plan to go public by merging with the special purpose acquisition company, Black Spade. Both entities stated in a joint declaration that they target the completion of the merger by August.
"The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Said Black Spade CEO, Dennis Tam.
As per the joint statement, Black Spade is scheduled to convene an extraordinary shareholder meeting to obtain approval for the proposed business combination with VinFast.