Redemptions Erase Nearly Half of Ace Global Business Acquisition’s Trust on Extension Vote

Ace Global Business Acquisition in an 8-K filing said that shareholders approved a merger deadline extension of up to six months, until July 8. Redemptions of 22.6 million shares left $25.2 million in trust.

Ace Global in December entered into a definitive merger agreement with LE Worldwide Limited, a component provider of data-enabled greenhouse farming solutions. At deal announcement, the company was expected to have a pre-money enterprise value of approximately $150 million. If approved, LE would list on the under a new ticker symbol.

LE produces Light-Emitting Diode (LED) technology, with of the largest LED product manufacturing and research facilities in 

The SPAC last July called off a merger with DDC Enterprise Limited, a digital publisher and merchandising company. Read more.

Source: Redemptions Erase Nearly Half of Ace Global Business Acquisition's Trust on Extension Vote