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 aggregate principal amount of $98,858.95 with Ace Global Investment Limited (Sponsor) at does not bear interest maturing matures upon the closing of a business combination by the Company.
- Instrument
- loan
- Principal
- aggregate principal amount of $98,858.95
- Counterparty
- Ace Global Investment Limited (Sponsor)
- Rate
- does not bear interest
- Maturity
- matures upon the closing of a business combination by the Company
- Event
- incurrence
Exact text from the filing
On January 26, 2024, Ace Global Business Acquisition Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $98,858.95 (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 one (1) month period, from February 9, 2024 to March 8, 2024. The Note does not bear interest and matures upon the closing of a business combination by the Company. In addition, the Note may be converted by the holder into units of the Company identical to the units issued in the Company’s initial public offering at a price of $10.00 per unit.
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