VinFast completes SPAC merger, will begin trading on Nasdaq stock market August 15

VinFast has leaped over its very last hurdle, a formality at the very least, to finalize its SPAC Merger with Black Spade Acquisition Company and list on the Nasdaq stock market. All is officially complete, enabling VinFast’s new ticker symbols to begin scrolling tomorrow.

Today’s news comes just days after shareholders of Black Spade Acquisition Company ($BSAQ) voted overwhelmingly in supported of a previously proposed SPAC Merger with VinFast to list on the Nasdaq. Last week’s vote was a major milestone in a two-plus year journey of the Vietnamese EV automaker becoming a publicly traded company in the US – vowing to do so before we even got a glimpse at its first all-electric models.

Since filing the initial paperwork with the SEC this past December, VinFast has been working alongside new partner Blade Spade to get a SPAC merger approved, paving the way for tomorrow’s public listing.

Shareholders have approved and the business combination is now official, leaving nothing else but to join the US stock market as “VFS” and “VFSWW.”

VinFast will begin trading under stock ticker “VFS”

Beginning August 15, VinFast will begin trading on the Nasdaq under the ticker symbols mentioned above. with the approved business combination now complete, Blade Spade now becomes a wholly-owned subsidiary of VinFast and will be delisted from the NYSE as a result.

VinFast’s global CEO Madame Thuy Le spoke to the completed merger and the company’s long-fought for public stock listing:

Becoming a US-listed company marks a significant milestone in VinFast’s global expansion. More than just a transaction on the stock market, going public reflects a powerful vote of confidence in our vision and potential, as well as fulfills our pledge to make smart, safe, and environmentally friendly electric vehicles accessible to everyone. I sincerely appreciate the wonderful collaboration with Black Spade as our respected partners who are joining us in our ‘boundless together’ journey towards a greener future for us and future generations.

That’s all for now. We will have to wait and see how the market feels about the SPAC merger when it opens tomorrow.