SAN FRANCISCO – Tempo Automation and ACE Convergence Acquisition said the registration statement in connection with their previously announced proposed business combination has been declared effective by the US Securities and Exchange Commission.

The deal is estimated at an equity value of $919 million post-transaction. The transaction could include cash of more than $500 million.

ACE will hold a general meeting May 5 during which shareholders will be asked to consider and vote on proposals to approve the merger and related matters.

The deal is expected to close shortly after the meeting, subject to shareholder approvals and the satisfaction or waiver of the conditions in the agreement and plan of merger and other customary closing conditions.

Upon closing, the post-closing company will be renamed Tempo Automation Holdings.