Apex Technology Acquisition Corporation

Apex Technology Acquisition Corporation (NASDAQ: APXT) is a blank cheque company which was formed for the purpose of merger and acquisition with one or more business.

Key Highlights:

• On July 01, 2021, the Apex Technology Acquisition Corporation announced the acquisition of Avepoint, Inc, the largest Microsoft 365 data management solutions provider.
• With the above collaboration, AvePoint received ~USD 492 million in gross proceeds including Apex's USD 352 million of cash and USD 140 million from an ordinary share private investment in public equity (PIPE). 
• The above entity started trading on the Nasdaq stock exchange with the ticker symbol of ‘AVPT’.
• Earlier, the APXT raised USD 350 million from its Initial Public Offerings (IPO).

Conclusion:

With the above acquisition, the entity would provide data management solutions to its clients, which would cater to the diverse, complex transformation, governance, and compliance need through the Microsoft cloud. Notably, AvePoint has collaborated with Microsoft and has a client base of more than seven million. Since APXT merged with AvePoint and is no longer trading on NASDAQ, therefore, the position on 'APXT' is closed at USD 12.11 per share while 'APXTU' traded at USD 13.61 (Stock + Warrant) as on the last trading day (July 1, 2021) as per the secondary sources.