NEW YORK, March 28, 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 April 9, 2022 to
July 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