Ace Global Business Pours Nearly $99K into Trust for Another Month of Operations | SPAC Feed

Ace Global Business Acquisition announced today that its sponsor deposited $98,858.95 (about 5 cents a share) into trust for another monthly extension. The SPAC’s new deal deadline is now March 8 and it can deploy one more extension to April with another deposit into trust.

Ace Global has a deal in hand with LE Worldwide. The target produces Light-Emitting Diode (LED) technology, with one of the largest LED product manufacturing and research facilities in asia.

The SPAC in September reducted the merger consideration from $150 million to $110 million.

The SPAC lost nearly half of its cash in trust ahead of the an extension vote a year ago when redemptions of 22.6 million shares left $25.2 million in the trust. Read more.

Source: Ace Global Business Pours Nearly K into Trust for Another Month of Operations

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• Source: https://spacfeed.com/ace-global-business-pours-nearly-99k-into-trust-for-another-month-of-operations