NEW
YORK, Jan. 3, 2024 /PRNewswire/ -- Ace Global
Business Acquisition Limited (NASDAQ: ACBA) (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 $98,858.95 representing, approximately
$0.05 per ordinary share, in order to
extend the period of time the Company has to complete a business
combination for an additional one (1) month period, from
January 9, 2024 to February 8, 2024. 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
Ace Global Business Acquisition Limited is a blank check company
formed 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 may includes "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, 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 business combination, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. Actual results could differ materially
from those contemplated by the forward-looking statements as a
result of certain factors detailed in the Company's filings with
the Securities and Exchange Commission ("SEC"). 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.
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SOURCE Ace Global Business Acquisition Limited