Tempo Automation Secures Up To $100M In Committed Equity Financing With White Lion Capital
Amount Raised
$100 Million
San FranciscoSoftwareDescription
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.