WILMINGTON, Del.--(BUSINESS WIRE)--ACE Convergence Acquisition Corp. announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Capital Market and trade under the ticker symbol “ACEV.U” beginning July 28, 2020. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq under the symbols “ACEV” and “ACEV WS,” respectively.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses in the IT infrastructure software and semiconductor sector.

Cantor Fitzgerald & Co. is acting as sole book-running manager and Northland Securities, Inc. is serving as lead manager in the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.