Apex Treasury Corporation Successfully Completes IPO of $344.7 Million

Apex Treasury Corporation Successfully Completes IPO of $344.7 Million

Recently, Apex Treasury Corporation (NASDAQ: APXTU) has celebrated a significant milestone by closing its upsized initial public offering, which raised an impressive $344.7 million. This initial public offering comprised a total of 34,470,000 units, which included 4,470,000 additional units due to the exercise of the underwriters’ over-allotment option. Each unit was offered at a price of $10.00, consisting of one Class A ordinary share and half of one redeemable warrant. A complete warrant allows the purchasing of one Class A ordinary share at a price of $11.50 per share.

Details of the Public Offering

The units are officially listed on the Nasdaq Global Market under the ticker symbol “APXTU” and began trading recently. Following the initiation of trading, the separate trading of the Class A ordinary shares and warrants will also commence, with respective ticker symbols “APXT” for shares and “APXTW” for warrants.

Concurrently Finished Private Placement

In conjunction with the closing of the public offering, Apex Treasury also finalized a private placement of 8,894,000 warrants priced at $1.00 each, yielding gross proceeds of $8,894,000. Apex Treasury Sponsor LLC, the company’s sponsor, secured 5,447,000 of these private placement warrants, while Cohen & Company Capital Markets took up 3,447,000. Each of these warrants shares the same exercisable features as the public offering's warrants, enabling the purchase of a Class A ordinary share at $11.50.

Purpose and Future Plans of Apex Treasury Corporation

Apex Treasury Corporation operates as a blank check company aimed at forming or merging with one or more businesses. While maintaining flexibility in its growth strategy, the company is particularly interested in opportunities within the digital asset sector, indicating its aim to adapt to the evolving financial landscape.

Role of Cohen & Company Capital Markets

Cohen & Company Capital Markets, a reputable division within Cohen & Company Securities, LLC, managed the public offering as the sole book-running manager, showcasing its expertise in capital markets and dedication to facilitating the success of Apex Treasury’s financial aspirations.

Looking Ahead

The registration statement for these securities has been made effective under the Securities Act of 1933. Apex Treasury Corporation is excited about its future potential and is committed to utilizing the proceeds from the offering strategically. The funds raised are intended for bridging new opportunities, particularly within the promising digital asset space.

Contact Information

For additional inquiries regarding the offering or corporate operations, interested parties may reach out to Ajmal Rahman, the Chairman and Co-Chief Executive Officer of Apex Treasury Corporation, via email at ajmal@apextreasurycorp.com.

Frequently Asked Questions

What is the purpose of the IPO by Apex Treasury Corporation?

The IPO aims to raise capital to enable business combinations, particularly targeting opportunities in the digital asset sector.

When did the trading of Apex Treasury Corporation's units begin?

The trading of the units began recently, right after the IPO closure, under the ticker symbol “APXTU”.

What are the key features of the units offered?

Each unit includes one Class A ordinary share and half of a redeemable warrant, providing a pathway to purchase additional shares at $11.50.

Who managed the IPO for Apex Treasury Corporation?

Cohen & Company Capital Markets acted as the sole book-running manager for this public offering, ensuring a smooth execution.

How much did Apex Treasury Corporation raise from the IPO?

The IPO raised $344.7 million, which will be key to the company pursuing its strategic objectives.

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