8-K
filed April 8, 2024, 7:59 PM ET
CIK 0001844389
other material
confidence high
sentiment neutral
materiality 0.50
ACBA shareholders approve 6-month extension; sponsor deposits $30k for first month
Ace Global Business Acquisition Ltd
- Shareholders approved charter and trust amendments allowing up to 6 one-month extensions from April 8 to October 8, 2024.
- Sponsor deposited $30,000 to extend deadline to May 8, 2024; 841,669 shares redeemed from trust.
- Trust account balance post-redemptions and deposit: approximately $13.78 million.
- Company issued $30k promissory note to sponsor, convertible into units at $10.00 per unit on close.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Ace Global Business Acquisition Ltd: Amended and restated memorandum and articles of association to extend the business combination deadline from April 8, 2024 to October 8, 2024, by up to six additional one-month extensions (effective 2024-04-03).
- Change
- charter amendment
- Effective
- 2024-04-03
Exact text from the filing
the Company filed an amended and restated memorandum and articles of association on April 3, 2024 (the “Charter Amendment”), giving the Company the right to extend the date by which it has to complete a business combination up to a total of six (6) times for an additional one (1) month each time from April 8, 2024 to October 8, 2024.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Ace Global Business Acquisition Ltd entered into Trust Amendment with Continental Stock Transfer & Trust Company (effective 2024-04-02).
- Action
- entry
- Counterparty
- Continental Stock Transfer & Trust Company
- Effective
- 2024-04-02
Exact text from the filing
entered into an amendment (the “Trust Amendment”) to the investment management trust agreement, dated April 5, 2021, as amended on January 5, 2023 and September 19, 2023, with Continental Stock Transfer & Trust Company on April 2, 2024.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Ace Global Business Acquisition Ltd entered into Note with Ace Global Investment Limited valued at $30,000 (effective 2024-04-05).
- Action
- entry
- Counterparty
- Ace Global Investment Limited
- Value
- $30,000
- Effective
- 2024-04-05
Exact text from the filing
issued an unsecured promissory note in the aggregate principal amount of $30,000 (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
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Ace Global Business Acquisition Ltd shareholders approved Amend and restate the Company’s amended and restated memorandum and articles of association to extend the date to complete a business combination up to six times for one month each from April 8, 2024 to October 8, 2024 at the 2024-04-02 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2024-04-02
Exact text from the filing
Shareholders approved the proposal to amend and restate the Company’s amended and restated memorandum and articles of association, giving the Company the right to extend the date by which it has to complete a business combination up to a total of six (6) times for an additional one (1) month each time from April 8, 2024 to October 8, 2024.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Ace Global Business Acquisition Ltd shareholders approved Amend the Company’s investment management trust agreement to extend the time to complete a business combination up to six times for one month each from April 8, 2024 to October 8, 2024 at the 2024-04-02 meeting.
- Proposal
- merger approval
- Outcome
- passed
- Meeting
- 2024-04-02
Exact text from the filing
Shareholders approved the proposal to amend the Company’s investment management trust agreement, dated April 5, 2021, as amended on January 5, 2023 and September 19, 2023, by and between the Company and Continental Stock Transfer & Trust Company to allow the Company to further extend the time to complete a business combination a total of six (6) times for an additional one (1) month each time from April 8, 2024 to October 8, 2024 by depositing into the trust account for each one-month extension, the lesser of (i) $30,000 and (ii) an aggregate amount equal to $0.033 multiplied by the number of issued and outstanding Public Share that has not been redeemed.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Ace Global Business Acquisition Ltd shareholders approved Election of five nominees for directors to serve until the next annual meeting at the 2024-04-02 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2024-04-02
Exact text from the filing
Shareholders elected all of the five nominees for directors to serve until the next annual meeting of shareholders.
View on SEC.gov
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