ACE GLOBAL BUSINESS ACQUISITION LTD : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Other Events (form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

The disclosure contained in Item 2.03 is incorporated by reference in this Item
1.01.


Item 2.03    Creation of a Direct Financial Obligation or an Obligation under an
             Off-Balance Sheet Arrangement of a Registrant.

On March 24th, 2023, Ace Global Business Acquisition Limited (the "Company") issued an unsecured promissory note in the aggregate principal amount of $350,332.05 (the "Note") to Ace Global Investment Limited, the Company's initial public offering sponsor ("Sponsor") in exchange for Sponsor depositing such amount into the Company's trust account in order to extend the period of time the Company has to complete a business combination for an additional three (3) months period, from April 9, 2023 to July 8, 2023. The Note does not bear interest and 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 the Company's initial public offering at a price of $10.00 per unit.

Item 8.01 Other Events

The Company issued the release filed herewith on March 24th, 2023. The materials attached as Exhibit 99.1 are incorporated by reference herein.

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