NEW
YORK, July 6, 2022 /PRNewswire/ -- Ace Global
Business Acquisition Limited (NASDAQ: ACBA, ACBAU, ACBAW, the
"Company"), a special purpose acquisition company,
announced today that Ace Global Investment Limited, the Company's
initial public offering sponsor (the "Sponsor"), has
deposited into the Company's trust account (the "Trust
Account") an aggregate of $455,400 (representing approximately $0.099 per ordinary share) in order to
extend the period of time the Company has to complete a business
combination for an additional three (3) months period,
from July 9, 2022 to October 8,
2022. The Company issued a promissory note to the Sponsor
with a principal amount equal to the amount deposited. The
promissory note bears no interest and is convertible into the
Company's units (with each unit consisting of one ordinary share,
and one warrant to purchase one ordinary share) at a price of
$10.00 per unit at the closing of a
business combination by the Company. The purpose of the extension
is to provide time for the Company to complete a business
combination.
About Ace Global Business Acquisition Limited
The Company is a British Virgin
Islands company incorporated as a blank check company for
the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, recapitalization,
reorganization or similar business combination with one or more
business entities.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including the successful consummation of the Company's
initial public offering, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
Investor Relationship Department
+852 9086 7042
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SOURCE Ace Global Business Acquisition Limited
