Ace Global Business Acquisition Limited Announces Mutual Termination of Merger Agreement and Redemption of Ordinary Shares

NEW YORK, May 24, 2024 /PRNewswire/ -- Ace Global Business Acquisition Limited (NASDAQ: ACBA) (the "Company"), a special purpose acquisition company, announced today that the Business Combination Agreement dated December 23, 2022 between the Company and LE Worldwide Limited, a British Virgin Islands business company ("LE Worldwide") (as supplemented by a Joinder Agreement dated March 2, 2023 between the Company, LE Worldwide, ACBA Merger Sub I Limited, a British Virgin Islands business company and wholly owned subsidiary of the Company ("Purchaser") and ACBA Merger Sub II Limited, a British Virgin Islands business company and wholly owned subsidiary of Purchaser ("Merger Sub") and as amended on July 6, 2023 and September 19, 2023) (the "Merger Agreement") has been mutually terminated and that the Company is ceasing its business combination efforts.

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