Deals
AvePoint Strikes Deal to Go Public Via Apex Technology SPAC
- Microsoft partner valued at $2 billion in the transaction
- The agreement includes a $140 million private investment
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Microsoft Corp. data partner AvePoint Inc. said it has reached a deal to go public through a merger with blank-check company Apex Technology Acquisition Corp.
The combined businesses will have an equity value of about $2 billion on a pro forma basis, AvePoint said in a statement Monday, confirming an earlier report by Bloomberg. That includes $140 million in proceeds from institutional investors participating in the transaction through a committed private investment, or PIPE. AvePoint shareholders are expected to own about 72% of the combined company when the deal closes, according to the company.