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    SEC Form SC 13G/A filed by Ace Global Business Acquisition Limited (Amendment)

    3/10/23 4:01:52 PM ET
    $ACBA
    Catalog/Specialty Distribution
    Consumer Discretionary
    Get the next $ACBA alert in real time by email
    SC 13G/A 1 karpus-sch13g_18686.htm KARPUS INVESTMENT MGT / ACE GLOBAL BUSINESS ACQUISITION - SCHEDULE 13G/A(#2)

     

      

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

     

     

    SCHEDULE 13G

    Under the Securities Exchange Act of 1934

      (Amendment No. 2) *

     

     

    Ace Global Business Acquisition Limited

    (Name of Issuer)

       

    Common

     

    (Title of Class of Securities)

      

    G0083E102

     

    (CUSIP Number)

      

    February 28, 2023

     

    (Date of Event Which Requires Filing of This Statement)

     

     

     

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

    ☒   Rule 13d-1(b)

    ☐   Rule 13d-1(c)

    ☐   Rule 13d-1(d)

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     
     

    CUSIP No.  G0083E102

    13G Page 2 of 5 Pages    

    1.  

    NAME OF REPORTING PERSON(S)

     

    Karpus Investment Management

     

       
    2.  

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

     

     

     

    (a) ☐

    (b) ☒

    3.  

    SEC USE ONLY

     

     

     

       
    4.  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    New York 

      

       
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON WITH
     

     5.

     

    SOLE VOTING POWER

     

    0 Shares

     

      6.  

    SHARED VOTING POWER

     

    0 Shares

     

      7.  

    SOLE DISPOSITIVE POWER

     

    0 Shares

     

      8.  

    SHARED DISPOSITIVE POWER

     

    0 Shares

     

    9.  

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    0 Shares

     

       
    10.  

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

     

     

     

       ☐
    11.  

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      

    0%

     

       

     12.

     

    TYPE OF REPORTING PERSON

       

    IA

     

       

     

     
     

    CUSIP No.  G0083E102

    13G Page 3 of 5 Pages    

     

     

    Item 1(a). Name of Issuer:

     

    Ace Global Business Acquisition Limited

     

     

     

    Item 1(b). Address of Issuer's Principal Executive Offices:

     

    Unit B, Central 88, 88-98, Des Voeux Road, 6th Floor, Central Hong Kong (SAR)

     

     

     

    Item 2(a). Name of Person Filing:

     

    This statement is being filed by Karpus Management, Inc., d/b/a Karpus Investment Management (“Karpus” or the “Reporting Person”). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG.

     

    The Shares to which this Schedule 13G relates are owned directly by the accounts managed by Karpus.

     

     

     

    Item 2(b). Address of Principal Business Office or, if none, Residence:

     

    183 Sully's Trail, Pittsford, New York 14534.

     

     

     

    Item 2(c). Citizenship:

     

    The members of the Karpus Management Committee are US citizens. Karpus is a New York corporation.

     

     

     

    Item 2(d). Title of Class of Securities.

     

    Common

     

     

     

    Item 2(e). CUSIP Number.

     

    G0083E102

     

     

      

    Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

     

    (a)  ☐ Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);

     

    (b)  ☐ Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
     
    (c)  ☐ Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
     
    (d)  ☐ Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
     
    (e)  ☒ An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
     
    (f)  ☐ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
     
    (g)  ☐ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
     
    (h)  ☐ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
     
    (i)  ☐

    A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

     

      (j) ☐  A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
     
    (k)  ☐ Group, in accordance with §240.13d-1(b)(1)(ii)(K).

     
     

    CUSIP No.  G0083E102

    13G Page 4 of 5 Pages    

     

     

    Item 4. Ownership:

     

    Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

    (a)       Amount beneficially owned:   0

    (b)       Percent of Class:   0%

    (c)       Number of shares as to which such person has:

    (i)     Sole power to vote or direct the vote:    0

    (ii)    Shared power to vote or direct the vote:     0

    (iii)   Sole power to dispose or to direct the disposition of:    0

    (iv)   Shared power to dispose or to direct the disposition of:     0

     

     

     

    Item 5. Ownership of Five Percent or Less of a Class.

    If this statement is being filed to report the fact that as of the date herof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following:   ☒

     

      

    Item 6. Ownership of More than Five Percent on Behalf of Another Person.

     

    Not applicable.

     

     

     

    Item 7. Identification and Classification of the Subsidiary Which Acquired the Security being Reported on by the Parent Holding Company.

     

    Not applicable.

     

     

     

    Item 8. Identification and Classification of Members of the Group.

     

    Not applicable.

     

     

     

    Item 9. Notice of Dissolution of Group.

     

    Not applicable.

     

     

     

    Item 10. Certification.

     

    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

     

     
     

    CUSIP No.  G0083E102

    13G Page 5 of 5 Pages    

     

     

    SIGNATURES

    After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

     

    Dated:                    March 10, 2023

     

     
    KARPUS MANAGEMENT, INC.

     
           
    By:
    /s/ Jodi L.Hedberg  
        Name:  Jodi L. Hedberg  
        Title:    Chief Compliance Officer  
           

     

     

     

     

     

     

     

     

     

     

     

     

     

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