|Bid||15.50 x 1800|
|Ask||15.90 x 800|
|Day's Range||13.25 - 16.70|
|52 Week Range||9.60 - 17.33|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Apex Technology Acquisition Corporation ("APXT" or the "Company") (NASDAQ: APXT) in connection with the Company's proposed merger with AvePoint Inc. ("AvePoint"), a privately held data management firm. Under the terms of the merger agreement, APXT will acquire AvePoint through a reverse merger that will result in AvePoint becoming a public company traded on the Nasdaq Capital Market under the new ticker symbol "AVPT." The transaction values the combined company at an equity value of approximately $2 billion.
AvePoint Inc., a data management provider and Microsoft Corp. cloud partner, is going public through a merger with blank-check company Apex Technology Acquisition Corp. , in deal valuing the equity value of the combined company at $2 billion. Apex's stock rallied 2.7% in morning trading on volume of 4.7 million shares, which compares with the full-day average of about 119,000 shares. AvePoint will be the name of the combined company, and the stock will remain listed on the Nasdaq exchange, under a new ticker symbol "AVPT." The company will be led by AvePoint co-Founder and Chief Executive Dr. Tianyi Jiang. The impact of COVID-19 and the growth of Microsoft's cloud solutions, including Microsoft 365 and Microsoft Teams, have accelerated demand for our products," Jiang said. "Going public now gives us the ability to meet this demand and scale up faster across product innovation, channel marketing, international markets, and customer success initiatives." The company is going public at a time that the Renaissance IPO ETF has hiked up 28.0% over the past three months while the S&P 500 has gained 5.6%.
AvePoint, Inc. ("AvePoint" or the "Company"), the largest data management solutions provider for the Microsoft cloud, announced today that it has entered into a definitive business combination agreement with Apex Technology Acquisition Corporation (NASDAQ: APXT), a publicly traded special purpose acquisition company ("Apex").