ACE Convergence Acquisition in an 8-K filing today disclosed that its shareholders voted in favor of pushing back the SPAC’s merger deadline to July 13 from Jan. 30. More than 99% of shares voted were for the extension.
ACE has a merger agreement with Tempo Automation, an electronics manufacturer, specializing in automated manufacturing of printed circuit boards.
The companies announced last week they had secured up to $200 million in secured notes to support the deal.
As announced in October, the transaction is expected to provide $391 million in gross cash proceeds to the company. Read more.
