Ace Global Business Acquisition Ltd: debt financing — Ace Global Business Acquisition extends deadline to July 8, 2023 via $350k sponsor note

Ace Global Business Acquisition Ltd

Sponsor deposited $350,332.05 ($0.15/share) into trust to extend business combination period by three months.
Extension moves deadline from April 9, 2023 to July 8, 2023.
Company issued an unsecured, non-interest-bearing promissory note to Sponsor convertible into units at $10.00 per unit upon closing.
Funds deposited into trust to provide additional time to complete a business combination.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Ace Global Business Acquisition Ltd incurred loan of $350,332.05 with Ace Global Investment Limited maturing upon closing of a business combination.

Instrument: loan
Principal: $350,332.05
Counterparty: Ace Global Investment Limited
Maturity: upon closing of a business combination
Event: incurrence

Exact text from the filing

On March 24th, 2023, Ace Global Business Acquisition Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $350,332.05 (the “Note”) to Ace Global Investment Limited, the Company’s initial public offering sponsor (“Sponsor”) in exchange for Sponsor depositing such amount into the Company’s trust account in order to extend the period of time the Company has to complete a business combination for an additional three (3) months period, from April 9, 2023 to July 8, 2023.

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001213900-23-022622

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.