ACE Convergence Acquisition Corp. to Merge with Tempo Automation (Tempo Automation Holdings, Inc.)
March 17, 2022
ACE Convergence Acquisition Corp. (ACE) entered into an agreement and plan of merger with Tempo Automation to complete a business combination, after which the combined entity is expected to be renamed Tempo Automation Holdings, Inc. ACE and Tempo expect the transaction to close subject to conditions in the merger agreement and shareholder approvals. Separately, Cantor Fitzgerald’s affiliate committed to purchase up to $100 million of post-merger Tempo common stock from time to time to provide Tempo additional opportunistic capital.
- Buyers
- ACE Convergence Acquisition Corp.
- Targets
- Tempo Automation
- Industry
- IT Services
- Location
- California, United States
- Transaction Type
- Buyout
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