ACE Global
Ace Global a special purpose acquisition company,successfully listed on NASDAQ at 11:30 P.M. Beijing time on April 6, 2021, raising $40 million with the symbol ACBA. Ace
Global Business Acquisition was founded in 2020 and intends to target the gaming and e-commerce sectors in China, Japan and Southeast Asia.
This is the 4th SPAC that AGBA（Asia）Capital has been involved in launching!
On the evening of April 6, 2021, AGBA (Asia) Capital Group held a "Cloud Bell Ringing" in Beijing, Shanghai and Hong Kong.Business partners and industry guests were present to celebrate.
On August 25, 2021, Ace Global announced that they have entered into a merger agreement with DDC. The parties plan to complete the merger transaction no later than February 1 next year. The combined company will be listed on NASDAQ under a
new ticker symbol, with the DDC management team continuing to operate. The total price of the transaction is $300 million.
The transaction values DDC at approximately $300 million, or nearly $360 million if no shareholders exercise their redemption rights. The merger is expected to be accompanied by a $35 million PIPE for DDC.
DDC is a digital publisher and marketing company, founded in Hong Kong in 2012. It is one of the largest food information service platforms and food content communities in Asia.
DDC's experienced management team, combined with their long-term extensive contacts in their respective regions, has attracted solid shareholder support, including K11, a high-end lifestyle brand owned by New World Development Co., Ltd.(one
of the four largest real estate developers in Hong Kong), Alibaba, the largest e-commerce group in China, Henderson, one of the largest enterprise groups in Hong Kong, etc.
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