Ace Global Business Acquisition Ltd: debt financing — Ace Global posts $30K promissory note to sponsor to extend business combination deadline to June 8, 2024

Ace Global Business Acquisition Ltd

Ace Global Business Acquisition issued a $30,000 unsecured promissory note to sponsor Ace Global Investment Ltd.
The note extends the deadline to complete a business combination from May 9, 2024 to June 8, 2024.
The note bears no interest, matures upon closing of a business combination, and is convertible into units at $10 per unit.
Purpose is to provide additional time for the SPAC to consummate 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 $30,000 with Ace Global Investment Limited at does not bear interest maturing upon the closing of a business combination by the Company.

Instrument: loan
Principal: $30,000
Counterparty: Ace Global Investment Limited
Rate: does not bear interest
Maturity: upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On April 16, 2024, Ace Global Business Acquisition Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $30,000 (the “Note”) to Ace Global Investment Limited

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Source: SEC EDGAR

accession 0001213900-24-033597

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