Ace Global Business Acquisition extends period for initial business combination

Ace Global Business Acquisition announced that Ace Global Investment, the company’s initial public offering sponsor, has deposited into the company’s trust account an aggregate of $98,858.95 representing, approximately 5c per ordinary share, in order to extend the period of time the company has to complete a business combination for an additional one month period, from October 9 to November 8. The company issued a promissory note to the Sponsor with a principal amount equal to the amount deposited. The promissory note bears no interest and is convertible into the company’s units at a price of $10.00 per unit at the closing of a business combination by the company. The purpose of the extension is to provide time for the company to complete a business combination.