Tempo Automation, a leader in software-accelerated electronics manufacturing, held a financial analyst day on September 14, 2022, discussing its long-term strategy and the proposed business combination with ACE Convergence Acquisition Corp. (NASDAQ: ACEV). Management reiterated that they expect the transaction to close in Q4 2022. The updated investor presentation is available on Tempo Automation's Investor Relations site and the SEC. This proposal aims to enhance Tempo's position in the rapidly evolving electronics sector.
Tempo Automation will participate in the 34th Annual Roth Conference on March 15, 2022, at 9:00 AM PT in Dana Point, CA. CEO Joy Weiss and CFO Ryan Benton will engage in one-on-one and small group meetings, alongside thematic industry panels and presentations from approximately 400 companies. Tempo is also set to merge with ACE Convergence Acquisition Corp. (ACEV), aiming to be renamed 'Tempo Automation Holdings, Inc.' post-transaction. The merger is subject to shareholder approvals and customary closing conditions.
Tempo Automation and ACE Convergence Acquisition Corp. (ACEV) announced the issuance of $200 million in Convertible Senior Notes, with an interest rate of 13% due in 2025. This includes $175 million from Oaktree Capital and $25 million from an ACE investment partner. The financing aims to support their Proposed Business Combination, expected to close in Q1 or Q2 2022, subject to approvals. Following the merger, the combined entity will be named "Tempo Automation Holdings, Inc." and trade as TMPO on Nasdaq, with anticipated total proceeds exceeding $500 million.
Tempo Automation, a leader in software-driven electronics manufacturing, announced its participation in CJS Securities 22nd Annual New Ideas for the New Year Conference on January 12, 2022. CEO Joy Weiss and CFO Ryan Benton will present at 3:45 PM Eastern Time and hold one-on-one investor meetings.
The company is also merging with ACE Convergence Acquisition Corp. (ACEV), aiming to rename as Tempo Automation Holdings, Inc. and list under TMPO on Nasdaq post-merger. This merger is subject to customary closing conditions, with significant potential to enhance Tempo’s market position.
Tempo Automation has announced a definitive merger agreement with ACE Convergence Acquisition Corp. (NASDAQ: ACEV), creating a new entity named Tempo Automation Holdings, Inc., expected to trade under the ticker symbol TMPO. The combined company is projected to have an equity value of approximately $919 million and estimated revenues of $146 million for 2021. Tempo is also acquiring Advanced Circuits and Whizz Systems to enhance its manufacturing capabilities in the $290 billion electronics market. The transaction is set to close in Q1 2022.