Hamartia Antidote
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Certainly something seems shady. Sounds like Kandi again.
AUG 15 2023
Shares of Vietnamese electric vehicle maker VinFast began trading on the Nasdaq on Tuesday, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition.
VinFast’s new U.S. shares opened at $22 on Tuesday and rose sharply to end the day at $37.06 for a gain of over 68%. Black Spade Acquisition’s shares closed at $10.45 on Monday.
SPACs are shell companies that raise capital in an IPO and use the cash to merge with a private company in order to take it public, usually within two years.
The deal with Black Spade valued VinFast at approximately $23 billion, according to a June filing with the U.S. Securities and Exchange Commission.
Kandi: How This China-Based NASDAQ-Listed Company Used Fake Sales, EV Hype to Nab $160 Million From U.S. Investors
Terrible Sales Won't Stop VinFast From Building U.S. Factory
VinFast is going ahead with its electric vehicle factory in North Carolina even though no one is buying its cars.
jalopnik.com
AUG 15 2023
Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger
VinFast has so far imported about 2,100 of its EVs to the U.S. from Vietnam, and brought nearly 800 more to Canada.
www.cnbc.com
Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger
Shares of Vietnamese electric vehicle maker VinFast began trading on the Nasdaq on Tuesday, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition.
VinFast’s new U.S. shares opened at $22 on Tuesday and rose sharply to end the day at $37.06 for a gain of over 68%. Black Spade Acquisition’s shares closed at $10.45 on Monday.
SPACs are shell companies that raise capital in an IPO and use the cash to merge with a private company in order to take it public, usually within two years.
The deal with Black Spade valued VinFast at approximately $23 billion, according to a June filing with the U.S. Securities and Exchange Commission.