ACE Convergence Acquisition in a preliminary proxy filing said it will ask shareholders to extend its merger deadline from July 13 until Oct. 13.
A shareholder vote on the SPAC’s proposed acquisition of Tempo Automation, a software-accelerated electronics manufacturer, was postponed last month. ACE said it needed more time to finalize financing for the deal, which has a $919 million estimated post-transaction equity value. Read more.
