Item 7.01 Regulation FD Disclosure
In
accordance with Regulation FD, Ace Global Business Acquisition Limited (“ACBA”) and DDC Enterprise Limited (“DDC”)
hereby furnishes an updated version of the Investor Presentation, which will be used by ACBA and DDC with respect to the Business Combination.
The slides are attached hereto as Exhibit 99.1. The information contained in the Investor Presentation
is summary information that is intended to be considered in the context of the ACBA’s Securities and Exchange Commission (“SEC”)
filings and other public announcements that the ACBA or DDC may make, by press release or otherwise, from time to time. ACBA undertakes
no duty or obligation to publicly update or revise the information contained in this presentation, although it may do so from time to
time. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through
other public disclosure.
The
information in this Item 7.01, including Exhibit 99.1, is furnished and shall not be deemed “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under
that section, and shall not be deemed to be incorporated by reference into the filings of ACBA under the Securities Act or the Exchange
Act, regardless of any general incorporation language in such filings. This Current Report will not be deemed an admission as to the
materiality of any information of the information in this Item 7.01, including Exhibit 99.1.
Important
Information and Where to Find It
In
connection with the proposed Business Combination, ACBA filed relevant materials with the SEC, including a proxy statement on Schedule
14A, including a preliminary proxy statement. Promptly after filing its definitive proxy statement with the SEC, ACBA will mail or email
the definitive proxy statement and a proxy card to each shareholder entitled to vote at the meeting of its shareholders relating to the
Business Combination and the transactions contemplated therewith.
INVESTORS
AND SHAREHOLDERS OF ACBA ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS
IN CONNECTION WITH THE BUSINESS COMBINATION TRANSACTION THAT ACBA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE, CAREFULLY AND IN
THEIR ENTIRETY, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ACBA, DDC AND THE BUSINESS COMBINATION.
Shareholders
will also be able to obtain a copy of the preliminary proxy statement and definitive proxy statement once they are available, without
charge, at the SEC’s website at www.sec.gov or by directing a request to ACBA at 6/F Unit B, Central 88, 88-89 Des Voeux Road Central,
Central, Hong Kong. This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities
or in respect of the Business combination. Please call the SEC at 1-800-SEC-0330 or visit the SEC’s website for further information
on its public reference room.
Participants
in the Solicitation
ACBA,
DDC and their respective directors and officers and representatives or affiliates may be deemed participants in the solicitation of proxies
of ACBA’s shareholders in connection with the Business Combination and the transactions contemplated therein. ACBA’s shareholders
and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of ACBA in the
final prospectus of ACBA, which was filed with the SEC on April 5, 2021. Information regarding the persons who may, under SEC rules,
be deemed participants in the solicitation of proxies to ACBA’s shareholders in connection with the Business Combination will be
set forth in the proxy statement for the Business Combination when available. Additional information regarding the interests of participants
in the solicitation of proxies in connection with the Business Combination will be included in the proxy statement that ACBA intends
to file with the SEC and other documents furnished or filed with the SEC by ACBA.
DDC
and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of
ACBA in connection with the proposed Business Combination. A list of the names of such directors and executive officers and information
regarding their interests in the proposed Business Combination will be included in the proxy statement for the proposed Business Combination.
Forward-Looking
Statements
This
Current Report on Form 8-K and the documents incorporated by reference herein (this “Current Report”) contain certain
“forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both
as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,”
“believe,” “expect,” “will,” “shall,” “may,” “anticipate,” “estimate,”
“would,” “positioned,” “future,” “forecast,” “intend,” “plan,”
“project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical
matters. Examples of forward-looking statements include, among others, statements made in this Current Report regarding the proposed
transactions contemplated by the Business Combination, including integration plans, expected synergies and revenue opportunities, anticipated
future financial and operating performance and results, including estimates for growth, the expected management and governance of the
combined company, and the expected timing of the Business Combination. Forward-looking statements are neither historical facts nor assurances
of future performance. Instead, they are based only on ACBA’s and DDC’s managements’ current beliefs, expectations
and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes
in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially
from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important
factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include,
among others, the following: (1) the occurrence of any event, change, or other circumstances that could give rise to the termination
of the Business Combination, including the termination of the share exchange agreement effecting the Business Combination (the “Share
Exchange Agreement”); (2) the outcome of any legal proceedings that may be instituted against ACBA and DDC following the
announcement of the Share Exchange Agreement and the transactions contemplated therein; (3) the inability to complete the proposed
Business Combination, including due to failure to obtain approval of the shareholders of ACBA and DDC, certain regulatory approvals,
or satisfy other conditions to closing in the Share Exchange Agreement; (4) the occurrence of any event, change, or other circumstance
that could give rise to the termination of the Share Exchange Agreement or could otherwise cause the transaction to fail to close; (5) the
impact of COVID-19 pandemic on DDC’s business and/or the ability of the parties to complete the proposed Business Combination;
(6) the inability to obtain or maintain the listing of ACBA’s shares of its Common Stock on Nasdaq following the proposed
Business Combination; (7) the risk that the proposed Business Combination disrupts current plans and operations as a result of the
announcement and consummation of the proposed Business Combination; (8) the ability to recognize the anticipated benefits of the
proposed Business Combination, which may be affected by, among other things, competition, the ability of DDC to grow and manage growth
profitably, and retain its key employees; (9) costs related to the proposed Business Combination; (10) changes in applicable
laws or regulations; (11) the possibility that ACBA or DDC may be adversely affected by other economic, business, and/or competitive
factors; (12) risks relating to the uncertainty of the projected financial information with respect to DDC; (13) risks related
to the organic and inorganic growth of DDC’s business and the timing of expected business milestones; (14) the amount of redemption
requests made by ACBA’s shareholders; and (15) other risks and uncertainties indicated from time to time in the final prospectus
of ACBA for its initial public offering dated March 29, 2021 filed with the SEC and the proxy statement on Schedule 14A relating to the
proposed Business Combination, including those under “Risk Factors” therein, and in ACBA’s other filings with the SEC.
ACBA cautions that the foregoing list of factors is not exclusive. ACBA and DDC caution readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date made. ACBA and DDC do not undertake or accept any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statements to reflect any change in its their expectations or any
change in events, conditions, or circumstances on which any such statement is based, except as required by law.
No
Offer or Solicitation
This
Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.