Tempo Automation Secures Up To $100M In Committed Equity Financing With White Lion Capital
11/21/22, 9:11 PM
Location
san franciscoMoney raised
$100 million
Industry
software
Tempo Automation (“Tempo”), a leading software-accelerated electronics manufacturer, and ACE Convergence Acquisition Corp. (“ACE”) a special purpose acquisition company focusing on industrial and enterprise IT, have entered into a committed equity facility with White Lion Capital, LLC (“White Lion Capital”). Under the terms of the facility, White Lion Capital has committed to purchase up to an aggregate of $100 million in the post-closing combined company’s common shares from time to time after the consummation of the previously announced business combination between Tempo and ACE at the request of the post-closing combined company. This facility will provide Tempo with the ability to raise additional capital in the future, subject to certain limitations and conditions.
Company Info
Location
san francisco, california, united states
Additional Info
Tempo 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 tempoautomation.com.