Ace Global Business Acquisition Limited announced today that its sponsor deposited $455,400 (9.9 cents a share) into the SPAC’s trust in exchange for a three month deadline extension until Jan. 8. The SPAC issued a promissory note to the sponsor in that amount, all of which is convertible into units.
This is the SPAC’s third deadline extension. Ace Global abandoned a deal in July with DDC Enterprise Limited, a digital publisher and merchandising company that owns and operates the brand DayDayCook. The SPAC cited unfavorable market conditions. Read more.
