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Ace Global Business Acquisition Limited - ACBA STOCK NEWS

Welcome to our dedicated page for Ace Global Business Acquisition news (Ticker: ACBA), a resource for investors and traders seeking the latest updates and insights on Ace Global Business Acquisition stock.

Ace Global Business Acquisition Limited (NASDAQ: ACBA) is a British Virgin Islands-based special purpose acquisition company (SPAC) established to engage in a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. The company has a history of targeting innovative and growth-oriented sectors.

Recently, Ace Global Business Acquisition Limited announced a merger agreement with LE Worldwide Limited (LE), a key player in the data-enabled greenhouse farming industry, known for their LED agricultural grow lights and smart horticulture solutions. LE’s technological expertise, especially in Controlled Environment Agriculture (CEA), aligns with Ace’s goal of fostering sustainable and modern agricultural practices. Despite their promising technological advancements, including partnerships for co-research with the prestigious Beijing Academy of Agriculture and Forestry Sciences, the merger was mutually terminated due to unfavorable market conditions and concerns over LE’s operational viability.

Prior to this, another notable transaction involved a planned merger with DDC Enterprise Limited (DDC), a digital publisher and merchandiser for Asian cooking. DDC, recognized for its brand DayDayCook, launched a range of ready-to-heat (RTH) and ready-to-cook (RTC) food products. Despite a strong market presence and strategic product innovations, the merger with DDC was also terminated due to market challenges.

As Ace Global Business Acquisition Limited winds down operations, it remains committed to ensuring a transparent and orderly liquidation process. The company will redeem all issued and outstanding ordinary shares from its public shareholders and work with its trustee according to its charter and IPO prospectus terms. Unfortunately, the company's warrants will expire worthless.

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Ace Global Business Acquisition (NASDAQ: ACBA) has announced the mutual termination of its merger agreement with LE Worldwide due to LE Worldwide's significant revenue decline, liquidity issues, and supply chain uncertainties. The termination was mutually agreed upon on May 24, 2024. As a result, Ace Global will cease its business combination efforts, liquidate, and dissolve as per its charter. All issued and outstanding ordinary shares from its IPO will be redeemed, but the company's warrants will expire worthless.

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Ace Global Business Acquisition (NASDAQ: ACBA) announced an additional $30,000 contribution to the Trust Account by the Sponsor to extend the period for a business combination. The extension allows the Company more time to finalize a potential merger or acquisition.
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Ace Global Business Acquisition (NASDAQ: ACBA) announced at its annual general meeting that shareholders voted to extend the deadline for completing a business combination multiple times. Ace Global Investment deposited $30,000 into the Trust Account to extend the deadline further. The extension aims to allow the Company more time to finalize a business combination.
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Ace Global Business Acquisition Limited (ACBA) extends its business combination deadline by depositing $98,858.95 into its Trust Account, aiming to complete a deal by April 8, 2024, with the Sponsor extending a promissory note for the amount deposited.
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LE Worldwide Limited (LEW) has announced a strategic co-research collaboration with the Beijing Academy of Agriculture and Forestry Sciences (BAAFS) to advance smart farming through LED grow light technology. The Chinese government's support for agriculture and technological advancements aligns with this partnership, aiming to develop cutting-edge agricultural solutions.
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Ace Global Business Acquisition Limited (ACBA) has announced an extension of the period to complete a business combination by depositing $98,858.95 into the Trust Account, representing approximately $0.05 per ordinary share. The extension period has been prolonged from February 9, 2024, to March 8, 2024, with the issuance of a promissory note to the Sponsor. The note bears no interest and is convertible into the Company's units at a price of $10.00 per unit at the closing of a business combination.
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Ace Global Business Acquisition Limited (NASDAQ: ACBA) announced a deposit of $98,858.95 into the Company's trust account to extend the period for completing a business combination. The deposit represents approximately $0.05 per ordinary share and aims to provide an additional one-month period, from January 9, 2024, to February 8, 2024. The Company issued a promissory note to the Sponsor with a principal amount equal to the deposit, bearing no interest and convertible into the Company's units at a price of $10.00 per unit at the closing of a business combination.
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LE Worldwide Limited (LEW) has engaged B2i Digital for an investor engagement program to highlight its potential merger with Ace Global Business Acquisition Limited (NASDAQ: ACBA), a SPAC. The company is a leading smart horticulture LED lighting provider for Controlled Environment Agriculture, expanding its global operations and developing optimized LED lighting solutions for indoor farms.
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Ace Global Business Acquisition Limited (NASDAQ: ACBA) announced that its sponsor, Ace Global Investment Limited, has deposited $98,858.95 into the Company's Trust Account to extend the period to complete a business combination by one month, from December 9, 2023, to January 8, 2024. The deposit represents approximately $0.05 per ordinary share and is backed by a promissory note with no interest, convertible into the Company's units at $10.00 per unit at the closing of a business combination.
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Ace Global Business Acquisition Limited (NASDAQ: ACBA) has extended the period for completing a business combination by depositing $98,858.95 into the Company's trust account. The extension is for one month, from November 9, 2023, to December 8, 2023. The deposit represents approximately $0.05 per ordinary share. The Company issued a promissory note to the Sponsor, which is convertible into the Company's units at a price of $10.00 per unit.
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FAQ

What is Ace Global Business Acquisition Limited?

Ace Global Business Acquisition Limited is a special purpose acquisition company (SPAC) focused on mergers, share exchanges, asset acquisitions, and similar business combinations with one or more businesses or entities.

What recent mergers were proposed by Ace Global Business Acquisition Limited?

Ace Global Business Acquisition Limited recently proposed mergers with LE Worldwide Limited, a smart horticulture LED lighting provider, and DDC Enterprise Limited, a digital publisher and merchandiser for Asian cooking. Both mergers were mutually terminated.

Why was the merger with LE Worldwide Limited terminated?

The merger with LE Worldwide Limited was terminated due to concerns over LE Worldwide's ability to continue its operations post-business combination, including a significant decline in business revenue and liquidity issues.

What is LE Worldwide Limited known for?

LE Worldwide Limited is known for its LED agricultural grow lights and smart horticulture solutions. The company focuses on Controlled Environment Agriculture (CEA) and aims to enhance efficiency in CEA through data-driven integrated lighting solutions.

What will happen to Ace Global Business Acquisition Limited now?

Ace Global Business Acquisition Limited will liquidate and dissolve. The company will redeem all issued and outstanding ordinary shares from its public shareholders and will handle the liquidation process as per its charter and IPO prospectus terms.

What role did DDC Enterprise Limited play in Ace Global Business Acquisition Limited's recent activities?

DDC Enterprise Limited, which operates the brand DayDayCook, was involved in a proposed merger with Ace Global Business Acquisition Limited. However, due to unfavorable market conditions, the merger was mutually terminated.

How will Ace Global Business Acquisition Limited handle the liquidation process?

The company will redeem all its issued and outstanding ordinary shares from public shareholders and work with its trustee to effect the liquidation in accordance with its charter and IPO prospectus terms.

What happens to the warrants issued by Ace Global Business Acquisition Limited?

The warrants issued by Ace Global Business Acquisition Limited will expire worthless as the company proceeds with its liquidation process.

Who is the CEO of Ace Global Business Acquisition Limited?

The CEO of Ace Global Business Acquisition Limited is Eugene Wong.

What was the purpose of Ace Global Business Acquisition Limited's establishment?

Ace Global Business Acquisition Limited was established as a blank check company for the purpose of effecting mergers, share exchanges, asset acquisitions, share purchases, recapitalizations, reorganizations, or similar business combinations with one or more business entities.

Ace Global Business Acquisition Limited

Nasdaq:ACBA

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46.75%
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0.11%
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