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Tech SPAC ACE Convergence Acquisition prices $200 million IPO at $10

Jul 28, 2020 - Nasdaq
Mergers and Acquisitions

A CE Convergence Acquisition, a blank check company formed by ACE Equity Partners and industry veterans targeting a tech business, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At pricing, ACE Convergence Acquisition commands a market value of $250 million. 

The company is led by  CEO and Chairman Behrooz Abdi , who currently serves as a Strategic Advisor at TDK and has experien...