Ace Global Business Acquisition Limited
ACBAW
NASDAQ Capital Market0.02
USD
-0.01
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Ace Global Business Acquisition Limited
ACBAW
(NASDAQ Capital Market)
Recent
price
0.02
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Ace Global Business Acquisition Limited (NASDAQ: ACBA, ACBAU, ACBAW) is a blank check company incorporated in the British Virgin Islands in 2020 and headquartered in Admiralty, Hong Kong. The company has no significant operations and focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses, primarily targeting opportunities in the artificial intelligence and related technology market in North America. It provides special purpose acquisition services to facilitate such transactions for high-growth enterprises. In May 2024, Ace Global mutually terminated its merger agreement with DDC Enterprise Limited, originally announced in 2021, due to unfavorable market conditions, leading to the redemption of ordinary shares and a shift back to seeking new business combination targets. The company has repeatedly extended its combination period through additional contributions to its trust account from sponsor Ace Global Investment Limited, including $0.03 million in recent funding, with the latest extensions in April 2024 to continue pursuing acquisitions. Previously, Ace Global completed its initial public offering in April 2021, raising $46 million through 4.6 million units at $10 each, including an over-allotment option fully exercised.