Ace Global Business Acquisition Limited announced that it has issued an unsecured promissory note in the aggregate principal amount of $116,777.35 on June 13, 2023. The transaction included participation from returning investor, Ace Global Investment Limited. The note will bear no interest rate and will mature upon 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 its initial public offering at a price of $10.00 per unit.