Ace Global Business Acquisition Limited filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Other Events, Financial Statements and Exhibits
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Item 1.01. Entry into a Material Definitive Agreement.
The disclosure contained in Item 2.03 is incorporated by reference in this Item 1.01.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On April 16, 2024, Ace Global Business Acquisition Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $30,000 (the “Note”) to Ace Global Investment Limited, the Company’s initial public offering sponsor (“Sponsor”) in exchange for Sponsor depositing such amount into the Company’s trust account in order to extend the period of time the Company has to complete a business combination for an additional one (1) month period, from May 9, 2024 to June 8, 2024. The Note does not bear interest and matures upon the closing of a business combination by the Company. In addition, the Note may be converted by the holder into units of the Company identical to the units issued in the Company’s initial public offering at a price of $10.00 per unit.
The foregoing description is qualified in its entirety by reference to the Note, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 8.01 Other Events
The Company issued the press release filed herewith on April 17, 2024. The materials attached as Exhibit 99.1 are incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
The following exhibits are furnished herewith:
EXHIBIT INDEX
| Exhibit No. | Description | |
| 10.1 | Promissory Note issued to the Sponsor. | |
| 99.1 | Press Release, dated April 17, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: April 17, 2024
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Ace Global Business Acquisition Limited (Registrant) |
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| By: | /s/ Eugene Wong | |
| Name: | Eugene Wong | |
| Title: | Chief Executive Officer | |
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