- Special purpose acquisition company Ace Global Business Acquisition ( NASDAQ: ACBA ) is set to merge with the data-enabled greenhouse farming solutions provider, LE Worldwide.
- ACBA will pay $150M to LE's shareholders upon the acquisition becoming effective, which shall be issued and divided into $10.00 per share.
- Ace will aim to secure cash proceeds exceeding $20M from a private investment in public equity.
- The two parties plan to remain Nasdaq-listed under a new ticker symbol upon the closing of the transaction.
- The combined company will be run by LE's current management team.
- Source: Press Release
For further details see:
Ace Global Business Acquisition to merge with LE Worldwide