NEW YORK, April 13, 2021 /PRNewswire/ -- Ace Global
Business Acquisition Limited (NASDAQ: ACBAU, the "Company")
announced today that the underwriters in its initial public
offering, pursuant to the terms of the underwriting agreement,
exercised in full their previously announced option to purchase
600,000 units to cover over-allotments, and, on April 9, 2021, purchased these additional units,
generating additional gross proceeds of $6,000,000.
The total aggregate issuance by the Company of 4,600,000 units
at a price of $10.00 per unit
resulted in total gross proceeds of $46,000,000.
Each unit consists of one ordinary share and one warrant to
purchase one ordinary share at a price of $11.50 per whole share. Once the securities
comprising the units begin separate trading, the ordinary shares
and warrants are expected to be listed on NASDAQ under the symbols
"ACBA" and "ACBAW," respectively.
Ladenburg Thalmann & Co. Inc. and Brookline Capital Markets,
a division of Arcadia Securities, LLC, acted as joint book-running
managers in the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
April 5, 2021. The offering is being
made only by means of a prospectus, copies of which may be obtained
by contacting Ladenburg Thalmann & Co. Inc., 640 5th Ave, 4th
Floor, New York, NY 10019. Copies
of the registration statement can be accessed through the SEC's
website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Ace Global Business Acquisition Limited
Ace Global Business Acquisition Limited is a British Virgin Islands company incorporated as
a blank check company for the purpose of entering into a merger,
share exchange, asset acquisition, share purchase,
recapitalization, reorganization or similar business combination
with one or more businesses or entities. The Company's efforts to
identify a prospective target business will not be limited to a
particular industry or geographic region, although the Company
intends to focus on operating businesses in the gaming and
e-commerce sectors in the Greater
China, Japan and
Southeast Asia regions.
Forward Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including the successful consummation of the Company's
initial public offering, are subject to risks and uncertainties,
which could cause actual results to differ from the forward looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
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SOURCE Ace Global Business Acquisition Limited