Ace Global Business Acquisition (ACBA) has released an update.
Ace Global Business Acquisition Limited has secured an extension to finalize a business combination by issuing a promissory note for nearly $99,000 to its IPO sponsor, who in turn boosted the company’s trust account. This move extends the deadline from March 9 to April 8, 2024. The note, which carries no interest, will mature at the business combination’s closure and can be converted into company units at $10 each. The company also released a press statement on this financial strategy on February 23, 2024.
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