VinFast Auto Pte. Ltd. signed a Letter Of Intent to acquire Black Spade Acquisition Co (NYSE:BSAQ) in a reverse merger transaction for approximately $23 billion on April 29, 2023. VinFast Auto Pte. Ltd. entered into a Business Combination Agreement to acquire Black Spade Acquisition on May 12, 2023. The business combination values VinFast at an enterprise value of approximately $27 billion and an equity value of $23 billion, not including Black Spade?s approximately $169 million of cash in trust (assuming no Black Spade shareholders elect to have their Black Spade shares redeemed for cash as permitted). The transaction is subject to the approval for the listing of VinFast Ordinary Shares and VinFast Warrants to be issued in connection with the Business Combination on the Nasdaq Stock Market or New York Stock Exchange, the completion of the conversion of VinFast from a Singapore private company to a Singapore public company, absence of any law or governmental order enjoining, prohibiting or making illegal the consummation of the Business Combination, effectiveness of registration statement, receipt of the required approval by the Black Spade shareholders and approval by the VinFast shareholders, the Merger surviving company shall have at least $5,000,001 of net tangible assets and closing deliverables including Registration Rights Agreement shall have been executed and delivered. The Board of Directors of BSAQ and VinFast have unanimously approved the agreement. Black Spade expects to begin trading under its current symbols "BSAQU," "BSAQ" and "BSAQWS" for its units, Class A ordinary shares and warrants, respectively, at the open of trading on NYSE American on June 21, 2023. The Extraordinary General Meeting of Black Spade shareholders will be held on July 13, 2023. The general meeting of shareholders of Black Spade Acquisition Co to approve the transaction is expected to be held on August 10, 2023. The transaction is expected to close in the second half of 2023. As of June 15, 2023, VinFast and Black Spade expects to complete the merger by July 20, 2023. As of July 28, 2023, U.S. Securities and Exchange Commission ("the SEC") has declared effective the registration statement on Form F-4 of VinFast in connection with its proposed business combination with Black Spade. The transaction is expected to close followed by the listing of VinFast in August 2023, subject to shareholder approvals and other customary closing conditions. Post transaction VinFast will remain as the combined company VinFast ordinary shares and warrants are currently expected to begin trading on Nasdaq at market open on or about August 15, 2023 under the symbols "VFS" and "VFSWW". As of August 10, 2023, transaction is approved by shareholders of Black Spade Acquisition and it is expected to close on August 14, 2023

Chardan is serving as M&A advisor to VinFast and JonesTrading Institutional Services is serving as financial advisor to BSAQ. Sharon Lau and Stacey Wong, Noah Carr, Julia Thompson, Jiyeon Lee-Lim, David Della Rocca, Paul Davies, Betty Huber, and Sarah Fortt of Latham & Watkins LLP acted as legal advisor to VinFast. James C. Lin, Patrick E. Sigmon, Frank J. Azzopardi, Adam Kaminsky, and Paul D. Marquardt of Davis Polk & Wardwell LLP acted as legal advisor to BSAQ. Continental Stock Transfer & Trust Company acted as transfer agent to BSAQ while Morrow Sodali LLC acted as proxy solicitation agent to BSAQ for a fee of $15,000, plus disbursements.Adam Hankiss and Kevin Manz of King and Spalding LLP acted as a legal advisor to Black Spade Sponsor LLC. Christian Chin of Allen & Gledhill acted as legal advisor to Black Spade Acquisition co. Ernst & Young LLP served as accountant to VinFast Auto Ltd

VinFast Auto Pte. Ltd. completed the acquisition of Black Spade Acquisition Co (NYSE:BSAQ) in a reverse merger transaction on August 11, 2023.