Tempo Automation, Inc. (“Tempo Automation”), a leading
software-accelerated electronics manufacturer, held a financial
analyst day on Wednesday, September 14, 2022. Tempo Automation
presented on its long-term strategy and discussed the proposed
business combination with ACE Convergence Acquisition Corp.
(Nasdaq: ACEV), followed by a live Q&A. Management concluded by
reiterating their expectation that the transaction will close in Q4
2022.
The updated investor presentation has been made available on the
Tempo Automation Investor Relations site, and is available on
www.sec.gov.
About Tempo Automation
Tempo Automation is a leading software-accelerated electronics
manufacturer, transforming the way top companies innovate and bring
new products to market. Tempo Automation’s unique automated
manufacturing platform optimizes the complex process of printed
circuit board manufacturing to deliver unmatched quality, speed and
agility. The platform’s all-digital process automation, data-driven
intelligence, and connected smart factory create a distinctive
competitive advantage for customers—to deliver tomorrow’s products
today. From rockets to robots, autonomous cars to drones, many of
the fastest-moving companies in industrial tech, medical
technology, space, and other industries partner with Tempo
Automation to accelerate innovation and set a new tempo for
progress. Learn more at https://www.tempoautomation.com.
About ACE
ACE Convergence Acquisition Corp. (Nasdaq: ACEV) is a special
purpose acquisition company focusing on industrial and enterprise
IT and semiconductors. For more information, please visit:
http://acev.io/
Additional Information and Where to Find It
Additional information about the proposed business combination
(the “Tempo Transaction”) between Tempo Automation (collectively
with its subsidiaries, “Tempo”) and ACE Convergence Acquisition
Corp. (“ACE”), including a copy of the agreement and plan of merger
and investor presentation, was provided in a Current Report on Form
8-K filed by ACE with the U.S. Securities and Exchange Commission
(the “SEC”) on October 14, 2021, and is available at www.sec.gov.
In connection with the Tempo Transaction, ACE has filed a
Registration Statement on Form S-4 (as it has been and may be
amended or supplemented from time to time, the “Registration
Statement”). The Registration Statement has been declared
effective, and ACE has filed post-effective amendments thereto. In
advance of the vote by ACE’s shareholders with respect to the Tempo
Transaction and other matters as described in the Registration
Statement, ACE will mail a definitive proxy statement to its
shareholders in connection with ACE’s solicitation of proxies for
such vote. The Registration Statement also includes the prospectus
relating to the offer of securities to be issued to Tempo
stockholders in connection with the Tempo Transaction. The
Registration Statement includes information regarding the persons
who may, under SEC rules, be deemed participants in the
solicitation of proxies to ACE’s shareholders in connection with
the Tempo Transaction. ACE will also file other documents regarding
the Tempo Transaction with the SEC. Before making any voting
decision, investors and security holders of ACE and Tempo are urged
to read the Registration Statement, the proxy statement/prospectus
contained therein, and all other relevant documents filed or that
will be filed with the SEC in connection with the Tempo Transaction
as they become available because they will contain important
information about the Tempo Transaction.
Investors and security holders can obtain free copies of the
proxy statement/prospectus and all other relevant documents filed
or that will be filed with the SEC by ACE through the website
maintained by the SEC at www.sec.gov. In addition, the documents
filed by ACE may be obtained free of charge from ACE’s website at
acev.io or by written request to ACE at ACE Convergence Acquisition
Corp., 1013 Centre Road, Suite 403S, Wilmington, DE 19805.
Forward-Looking Statements
This communication contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the Tempo Transaction, including statements regarding the benefits
of the Tempo Transaction, the anticipated timing of the Tempo
Transaction, the services offered by Tempo and the markets in which
it operates, and Tempo’s projected future results. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties that could cause the
actual results to differ materially from the expected results. Many
factors could cause actual future events to differ materially from
the forward-looking statements in this document, including but not
limited to: (i) the risk that the Tempo Transaction may not be
completed in a timely manner or at all, which may adversely affect
the price of ACE’s securities, (ii) the risk that the Tempo
Transaction may not be completed by ACE’s business combination
deadline and the potential failure to obtain an additional
extension of the business combination deadline if sought by ACE,
(iii) the failure to satisfy the conditions to the consummation of
the Tempo Transaction, including the receipt of the requisite
approvals of ACE’s shareholders and Tempo’s stockholders,
respectively, the satisfaction of the minimum trust account amount
following redemptions by ACE’s public shareholders and the receipt
of certain governmental and regulatory approvals, (iv) the lack of
a third party valuation in determining whether or not to pursue the
Tempo Transaction, (v) the occurrence of any event, change or other
circumstance that could give rise to the termination of the amended
and restated agreement and plan of merger, (vi) the effect of the
announcement or pendency of the Tempo Transaction on Tempo’s
business relationships, performance, and business generally, (vii)
risks that the Tempo Transaction disrupts current plans of Tempo
and potential difficulties in Tempo employee retention as a result
of the Tempo Transaction, (viii) the outcome of any legal
proceedings that may be instituted against Tempo or against ACE
related to the amended and restated agreement and plan of merger or
the Tempo Transaction, (ix) the ability to maintain the listing of
ACE’s securities on The Nasdaq Stock Market LLC, (x) volatility in
the price of ACE’s securities due to a variety of factors,
including changes in the competitive and highly regulated
industries in which Tempo plans to operate, variations in
performance across competitors, changes in laws and regulations
affecting Tempo’s business and changes in the combined capital
structure, (xi) the ability to implement business plans, forecasts,
and other expectations after the completion of the Tempo
Transaction, and identify and realize additional opportunities,
(xii) the risk of downturns in the highly competitive industry in
which Tempo operates, (xiii) the impact of the global COVID-19
pandemic, (xiv) the enforceability of Tempo’s intellectual
property, including its patents, and the potential infringement on
the intellectual property rights of others, cyber security risks or
potential breaches of data security, (xv) the ability of Tempo to
protect the intellectual property and confidential information of
its customers, (xvi) the risk of downturns in the highly
competitive additive manufacturing industry, and (xvii) other risks
and uncertainties described in the Registration Statement, the
proxy statement/prospectus included in the Registration Statement,
ACE’s Annual Report on Form 10-K for the fiscal year ended December
31, 2021, filed with the SEC on March 10, 2022 (the “Form 10-K”),
its subsequent Quarterly Reports on Form 10-Q and the other
documents filed by ACE from time to time with the SEC. The
foregoing list of factors is not exhaustive. These forward-looking
or supplemented statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
investors as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the
Registration Statement, the proxy statement/prospectus included in
the Registration Statement, the Form 10-K, ACE’s Quarterly Reports
on Form 10-Q and the other documents filed by ACE from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. These risks and uncertainties may be amplified by the
COVID-19 pandemic, which has caused significant economic
uncertainty. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Tempo and ACE assume no obligation
and do not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise, except as required by securities and other applicable
laws. Neither Tempo nor ACE gives any assurance that either Tempo
or ACE, respectively, will achieve its expectations.
No Offer or Solicitation
This communication is for informational purposes only and does
not constitute an offer or invitation for the sale or purchase of
securities, assets or the business described herein or a commitment
to ACE with respect to any of the foregoing, and this communication
shall not form the basis of any contract, nor is it a solicitation
of any vote, consent, or approval in any jurisdiction pursuant to
or in connection with the Tempo Transaction or otherwise, nor shall
there be any sale, issuance or transfer of securities in any
jurisdiction in contravention of applicable law.
Participants in Solicitation
ACE and Tempo, and their respective directors and executive
officers, may be deemed participants in the solicitation of proxies
of ACE’s shareholders in respect of the Tempo Transaction.
Information about the directors and executive officers of ACE is
set forth in the Form 10-K. Additional information regarding the
identity of all potential participants in the solicitation of
proxies to ACE’s shareholders in connection with the proposed Tempo
Transaction and other matters to be voted upon at the extraordinary
general meeting, and their direct and indirect interests, by
security holdings or otherwise, is set forth in ACE’s proxy
statement. Investors may obtain such information by reading such
proxy statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20220920005546/en/
Investor Relations Contact Mark Roberts
mark@blueshirtgroup.com tempoautomation@blueshirtgroup.com
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