Tempo Automation

Tempo Automation Secures $7.0M Convertible Promissory Note Facility Strengthening Financial Position and Providing Capital for Optimum Acquisition

Retrieved on: 
Wednesday, June 21, 2023

"We are delighted to have secured financing that not only bolsters our financial stability but also equips us with the capital necessary to finalize the previously announced acquisition of Optimum Design Associates.

Key Points: 
  • "We are delighted to have secured financing that not only bolsters our financial stability but also equips us with the capital necessary to finalize the previously announced acquisition of Optimum Design Associates.
  • Asia-IO shares our vision of strategic expansion by leveraging our unique data-driven factory automation technology to disrupt the industry," said Joy Weiss, CEO of Tempo Automation.
  • Under the terms of the Convertible Promissory Note, up to $4.0 million in aggregate principal amount may be drawn by the Company from time to time upon one or more written requests.
  • The Optimum Acquisition is anticipated to close in the second half of 2023, pending the satisfaction or waiver of certain customary closing conditions.

Tempo Automation Enhances Customer Experience with Advanced Customer Portal Trials

Retrieved on: 
Monday, May 22, 2023

SAN FRANCISCO, May 22, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (“Tempo Automation” or “Tempo”, NASDAQ: TMPO), a leading software-accelerated electronics manufacturer, announces the initiation of customer trials for its upgraded customer portal.

Key Points: 
  • SAN FRANCISCO, May 22, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (“Tempo Automation” or “Tempo”, NASDAQ: TMPO), a leading software-accelerated electronics manufacturer, announces the initiation of customer trials for its upgraded customer portal.
  • The portal provides real-time feedback on price estimates for printed circuit board assemblies (PCBAs), with visibility to supply chain availability and constraints.
  • “In line with our strategic vision, Tempo’s enhanced portal serves as the customer interface to our Accelerated Electronics Manufacturing Platform.
  • It signifies an advancement in intelligent automation for printed circuit board assembly, while enhancing the Platform for future organic and synergistic growth.”
    In addition to providing an industry-leading customer experience, the portal significantly automates numerous manual steps involved in relaying complex customer specifications to the production line.

Tempo Automation Announces First Quarter Financial Results

Retrieved on: 
Monday, May 15, 2023

SAN FRANCISCO, May 15, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, “Tempo Automation” or “Tempo”), a leading software-accelerated electronics manufacturer, announced today its financial results for the first quarter of 2023.

Key Points: 
  • SAN FRANCISCO, May 15, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, “Tempo Automation” or “Tempo”), a leading software-accelerated electronics manufacturer, announced today its financial results for the first quarter of 2023.
  • “We continued to see strong customer engagement for our software-accelerated platform across multiple industries,” said Joy Weiss, CEO of Tempo Automation.
  • Net loss in the first quarter of 2023 was $7.4 million, compared to net loss of $12.5 million in the first quarter of 2022.
  • Adjusted EBITDA in the first quarter of 2023 was $(4.1) million, compared to Adjusted EBITDA of $(7.7) million in the first quarter of 2022.

Tempo Automation Announces Definitive Agreement to Acquire Optimum Design Associates Extending Its Accelerated Manufacturing Platform to Electronic Design Services

Retrieved on: 
Monday, March 27, 2023

SAN FRANCISCO, March 27, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, “Tempo Automation” or “Tempo”), a leading software-accelerated electronics manufacturer, announced today that it has entered into a definitive agreement to acquire Optimum Design Associates, Inc. and Optimum Design Associates Pty.

Key Points: 
  • SAN FRANCISCO, March 27, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, “Tempo Automation” or “Tempo”), a leading software-accelerated electronics manufacturer, announced today that it has entered into a definitive agreement to acquire Optimum Design Associates, Inc. and Optimum Design Associates Pty.
  • Ltd. (collectively “Optimum” or “Optimum Design Associates”), a fast-growing electronic design services company with offices in the United States and Australia that has delivered over 10,000 printed circuit board (PCB) designs to blue-chip customers.
  • Tempo believes that the opportunities to cross-sell design and manufacturing services will be natural synergies for the combined company.
  • Tempo recently added powerful new tools to its Accelerated Electronics Manufacturing Platform, enabling its customers to hedge against electronics components market volatility.

Tempo Provides Third Quarter 2022 Financial and Operational Results Commentary and 2022 and 2023 Guidance

Retrieved on: 
Friday, December 16, 2022

The Company (formerly known as ACE Convergence Acquisition Corp.) completed its business combination with Tempo Automation, Inc., resulting in Tempo becoming a publicly traded company.

Key Points: 
  • The Company (formerly known as ACE Convergence Acquisition Corp.) completed its business combination with Tempo Automation, Inc., resulting in Tempo becoming a publicly traded company.
  • The portal upgrade is scheduled to launch in Q1 2023 and will help us better engage with our customers.
  • In support of this launch, we plan to slightly increase our marketing expenditures in 2023 to promote the new platform and associated services.
  • It is probable that these factors would have a significant impact on Tempo’s projected financial position and results of operations as reported under GAAP.

Tempo Automation Helps Blur Product Development Bring Products to Market Faster

Retrieved on: 
Wednesday, December 14, 2022

SAN FRANCISCO, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (Nasdaq: TMPO) (“Tempo Automation” or “Tempo”) announced today that Blur Product Development (“Blur”), a leading medical device design and development partner, has elected to leverage Tempo’s Accelerated Electronics Manufacturing Platform to speed up product development timelines for its clients.

Key Points: 
  • SAN FRANCISCO, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (Nasdaq: TMPO) (“Tempo Automation” or “Tempo”) announced today that Blur Product Development (“Blur”), a leading medical device design and development partner, has elected to leverage Tempo’s Accelerated Electronics Manufacturing Platform to speed up product development timelines for its clients.
  • Joy Weiss, CEO of Tempo Automation, said, “Tempo has focused its manufacturing platform to serve the unique needs of early stage electronic product development.
  • Like Blur, our goal is to help get our customers’ products to market as quickly as possible.”
    Tempo Automation is a leading software-accelerated electronics manufacturer, revolutionizing the way top companies innovate and bring new products to market.
  • Founded in 2015, Blur Product Development helps clients in medical device, consumer packaged goods, industrials, and other industries successfully bring new products to market.

ACE Convergence Acquisition Corp. and Tempo Automation, Inc. Announce Closing of Business Combination; Tempo Automation Holdings, Inc. to Trade on Nasdaq Under Ticker Symbols "TMPO" and “TMPOW”

Retrieved on: 
Wednesday, November 23, 2022

Following the merger, the combined company will operate under the name Tempo Automation Holdings, Inc. (Tempo Automation).

Key Points: 
  • Following the merger, the combined company will operate under the name Tempo Automation Holdings, Inc. (Tempo Automation).
  • Beginning on November 23, 2022, Tempo Automations common stock and warrants will trade on Nasdaq under the ticker symbols TMPO and TMPOW, respectively.
  • Tempo Automations experienced management team will continue to be led by Chief Executive Officer Joy Weiss and Chief Financial Officer Ryan Benton.
  • Tempo Automation is a leading software-accelerated electronics manufacturer, revolutionizing the way top companies innovate and bring new products to market.

Tempo Automation Secures Up To $100M in Committed Equity Financing with White Lion Capital

Retrieved on: 
Monday, November 21, 2022

SAN FRANCISCO, Nov. 21, 2022 (GLOBE NEWSWIRE) -- 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).

Key Points: 
  • SAN FRANCISCO, Nov. 21, 2022 (GLOBE NEWSWIRE) -- 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).
  • This facility will provide Tempo with the ability to raise additional capital in the future, subject to certain limitations and conditions.
  • Tempo and ACE currently expect the transaction to be closed, subject to respective shareholder approvals, by the end of November 2022.
  • Tempo is a leading software-accelerated electronics manufacturer, transforming the way top companies innovate and bring new products to market.

Tempo Automation Hosts Financial Analyst Day

Retrieved on: 
Tuesday, September 20, 2022

Tempo Automation , Inc. (Tempo Automation), a leading software-accelerated electronics manufacturer, held a financial analyst day on Wednesday, September 14, 2022.

Key Points: 
  • 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.
  • Tempo Automation is a leading software-accelerated electronics manufacturer, transforming the way top companies innovate and bring new products to market.
  • 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.

Compass Diversified Terminates Agreement to Sell Advanced Circuits

Retrieved on: 
Friday, July 29, 2022

WESTPORT, Conn., July 29, 2022 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) (CODI or the Company), an owner of leading middle market businesses, today announced that its majority-owned subsidiary, Compass AC Holdings, Inc. (Advanced Circuits), terminated the previously announced Agreement and Plan of Merger, dated as of October 13, 2021 (the Merger Agreement), pursuant to which Advanced Circuits was to be sold to Tempo Automation, Inc. (Tempo Automation).

Key Points: 
  • WESTPORT, Conn., July 29, 2022 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) (CODI or the Company), an owner of leading middle market businesses, today announced that its majority-owned subsidiary, Compass AC Holdings, Inc. (Advanced Circuits), terminated the previously announced Agreement and Plan of Merger, dated as of October 13, 2021 (the Merger Agreement), pursuant to which Advanced Circuits was to be sold to Tempo Automation, Inc. (Tempo Automation).
  • Due to continued delay in closing the SPAC Transaction, the Company and Advanced Circuits elected to terminate the Merger Agreement.
  • Advanced Circuits is a proven industry leader in the PCB industry, and were proud of the Companys success under CODIs ownership, said Elias Sabo, CEO of Compass Diversified.
  • Advanced Circuits serves over 10,000 customers, specializing in in the high tech aerospace, military (DOD contracts ready), medical, and commercial industries.