Apex Technology: Rises on $2 bln merger
23/11/2020 12:50
** Shares in blank-check company Apex Technology Acquisition
Corp APXT.O up 7.3%
** AvePoint Inc, data management co backed by investment
firm Sixth Street, will be taken public via merger with APXT, in
deal valued at $2 bln, cos say urn:newsml:reuters.com:*:nL4N2I92BQ
** APXT is led by former Oracle finance boss Jeff Epstein
and former Goldman Sachs head of technology and investment
banking Brad Koenig
** A special purpose acquisition company (SPAC) is shell co
that uses IPO proceeds to buy another firm, typically within two
years, in merger that will take acquired co public
** AvePoint expects to generate about $148 mln in total
revenue for 2020, an increase of about 26% from a year earlier
(Reporting by Noor Zainab Hussain in Bengaluru)
((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780;
Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))