DDC Enterprise Limited, a digital publisher and merchandising company and Ace Global Business Acquisition Limited announced that Ace has filed a preliminary proxy in connection with their proposed business combination.
Ace said it anticipates holding a shareholder vote on the deal before the end of the fourth quarter.
The combined company would have a pro forma firm value of approximately $377 million to $387 million, assuming no shareholder redemptions. DDC will receive $46.9 million in cash from Ace’s trust as well as a PIPE of $30 million to $40 million. Read more.
