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”). I think AvePoint is a solid company but not a keeper for me. The merger between APXT and AvePoint will likely take place sometime early in 2021, although an exact date hasn't been announced. The guidance provided above is only an estimate. 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”). Reply. Account required. We have achieved eight quarters of impressive growth. Streamline SharePoint infrastructure operations—across one or many farms—with backup, administration, reporting, and storage optimization. Apex is led by former Oracle CFO Jeff Epstein and former Goldman Sachs Head of Technology Investment Banking Brad Koenig. Founded in 2001, AvePoint is headquartered in Jersey City, New Jersey. The Company is not readily able to provide a reconciliation of projected EBIT Margin to projected net income without unreasonable effort. APXT stock may represent a fairly straightforward tech deal. Manage physical and electronic records in Office 365, Find, prioritize, fix, and enforce Microsoft 365 security controls, Create a seamless, engaging learning experience with a modern LMS and digital exam solution leveraging Microsoft 365, Transform mail, files, and collaboration—from legacy systems, clouds, or other tenants—to SharePoint and Microsoft 365, Define, manage, and enforce lifeycle policies for electronic content alongside physical records. Apex’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of Apex in its Annual Report on Form 10-K for the year ended December 31, 2019, which has been filed with the SEC. What Did the Stock Market Do Today? Reply. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law. Our SaaS solutions are also available to managed service providers, so they can better support and manage their small and mid-sized business customers. APXT Stock: Why Apex Shares Are Climbing Ahead of the AvePoint SPAC Merger, 8 Things to Know as Coupang Starts Trading Today >>> READ MORE, his Dec. 7 piece that focused on several unique proposed mergers, 2 Charts That Prove This Is Not Dot-Com 2.0, Be Careful With Churchill Capital IV Stock, While the Lucid Deal’s Still Pending, Matt McCall and the InvestorPlace Research Staff. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Upon completion of the proposed transaction, existing AvePoint shareholders are expected to own approximately 72% of the combined company, which is expected to have approximately $252 million of cash on the balance sheet assuming no redemptions by Apex’s public stockholders. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the … Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Apex through the website maintained by the SEC at www.sec.gov. Manage, move and secure your Office 365 content. AvePoint and Apex will host a joint investor conference call to discuss the transaction and review an investor presentation on November 23 at 12:30 pm ET. Cooley LLP is acting as legal counsel to AvePoint. APXT has a huge client base already, at an estimated 7 million members. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the registration statement on Form S-4 above and discussed below and other documents filed by Apex from time to time with the SEC. While he acknowledged that the deal is a straight software technology merger, it is “one of the rare deals that will also pay cash to existing shareholders of AvePoint. AvePoint is increasing its recurring revenue, Jiang said. More than 7 million cloud users, including a quarter of the Fortune 500, rely on our solutions. ET on InvestorPlace.com 5 SPAC Stock Mergers Recently Announced and … edited 1 month ago. 19. JERSEY CITY, N.J., Feb. 9, 2021 /PRNewswire/ -- AvePoint, a leading Microsoft 365 data management independent software vendor, appoints Jason Beal as senior vice president of global channel and partner ecosystems. In November 2020, APXT announced a merger deal with AvePoint. Dogecoin Is Fully Capable of Going ‘Whale’ Hunting, Short-Sale Restrictions: What to Know About the SSR Stocks Rule as GME Moves Wildly, Should You Buy GameStop Stock? This communication also shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Because EBIT Margin is a non-GAAP measure, however, it should not be considered as an alternative to, or more meaningful than, net income (loss) as a measure of operating performance or to cash flows from operating, investing or financing activities or as a measure of liquidity. Readers may recall contributor Mark Hake’s take on the special purpose acquisition company (SPAC) in his Dec. 7 piece that focused on several unique proposed mergers. All rights reserved. Apex will file other documents regarding the proposed transaction with the SEC. Evercore Group L.L.C. Apex and its directors and officers may be deemed participants in the solicitation of proxies of Apex’s stockholders in connection with the proposed transaction. The company is the largest Microsoft 365 data management solutions provider. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint and Apex assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. APXT stock is trading at a 66 percent premium to its IPO price of $10. Article printed from InvestorPlace Media, https://investorplace.com/2021/01/apxt-stock-why-apex-shares-are-climbing-ahead-of-the-avepoint-spac-merger/. APXT shares are up as much as 13% in early trading today after gaining more than 2% on Monday. quotes delayed at least 15 minutes, all others at least 20 minutes. Disregarding if this is true or not. Before making any voting decision, investors and security holders of Apex are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. “AvePoint provides critical data management solutions that enable organizations to make their digital collaboration systems more productive, secure and compliant. This is the second year of the company's annual recurring revenue growing at more than 30% year-over-year, the CEO said. For more information, visithttps://www.avepoint.com. Automate privacy and security programs across your enterprise’s content. About APXT. After the business combination is completed, AvePoint will be listed on the NASDAQ under the new ticker symbol, AVPT. Access user guides, release notes, account information and more! The deal is expected to close in the first quarter of 2021. AvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announces $2bn Merger Transaction includes a fully committed PIPE of $140 mm anchored by top-tier investors AvePoint … APXT and AvePoint merger date. 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. APXT has reached a deal to merge with AvePoint, the largest Microsoft 365 Data Management Solutions Provider. AvePoint Inc., a data management provider and Microsoft Corp. MSFT, +2.15% cloud partner, is going public through a merger with blank-check company Apex Technology Acquisition Corp. APXT… “AvePoint’s merger to become a public company demonstrates the power of Microsoft’s channel and the opportunity it provides our partners to flourish long-term.”. APXT has reached a deal to merge with AvePoint, the largest Microsoft 365 Data Management Solutions Provider. Founded in 2001, AvePoint is headquartered in Jersey City, New Jersey. We urge you to review AvePoint’s audited financial statements that will be filed with the SEC in Apex’s registration statement on Form S-4. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. AvePoint believes this measure provides useful information to management and investors regarding AvePoint’s business and results of operations. I am honored to continue leading this wonderful team of passionate and agile forward-thinkers. The deal will provide $252 million to the combined company’s coffers. Apex Technology Acquisition Corporation does not have significant operations. Mr. Epstein will join AvePoint’s Board of Directors as a director and Mr. Koenig will join AvePoint’s Board of Directors as an observer. Actual results will vary from the guidance and the variations may be material. For more information, visit https://www.avepoint.com. This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between AvePoint and Apex, including statements regarding the anticipated benefits of the transaction, the anticipated timing of the transaction, future financial condition and performance of AvePoint and expected financial impacts of the transaction (including future revenue, pro forma enterprise value and cash balance), the satisfaction of closing conditions to the transaction, the PIPE transaction, the level of redemptions of Apex’s public shareholders and the products and markets and expected future performance and market opportunities of AvePoint. AvePoint is well-positioned to take advantage of this,” said Mr. Epstein. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. 2021 InvestorPlace Media, LLC. Latham & Watkins LLP is acting as legal counsel to Apex. William Blair & Company is acting as a financial advisor to Apex. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. This is good news for AvePoint and for our customers. Jeff Epstein discusses Avepoint's (AVPT) merger with a SPAC Apex Technology Acquisition Corporation (APXT). AvePoint, Inc. ("AvePoint" or the "Company"), the largest data management solutions provider for the Microsoft cloud, announced today that it has entered into a … RBLX Stock IPO: When Does Roblox Go Public? However, ahead of the AvePoint SPAC merger, things look hot. Copyright © Collaborate with confidence. Microsoft has seen its share of the productivity and collaboration market expand to 28% according to a 2020 IDC report. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act, or an exemption therefrom. Today we announced AvePoint will go public via a $2.0 billion USD initial public merger with Apex Technology Acquisition Corporation (NASDAQ: APXT), a special-purpose acquisition company (SPAC). Upon closing the transaction, it is expected that the combined company will be named AvePoint and will remain a publicly traded company listed on the Nasdaq Stock Market under a new ticker symbol, “AVPT.” The combined company will be led by Dr. Tianyi Jiang, AvePoint’s co-founder and CEO, and AvePoint co-founder Kai Gong will serve as Executive Chairman. The way I understand it Avepoint is a third-party software provider that helps enterprises migrate their data to cloud platforms, in particular Microsoft's (NASDAQ:MSFT) cloud. The one I may keep through merger is NGA/Lion. Our data management solutions help our diverse, global customer base overcome complex transformation, governance, and compliance challenges in the Microsoft cloud. The Company launched another first-to-market product during COVID-19--a SaaS solution to provide sensitivity-based security insights and automated policy enforcement to prevent risky oversharing in Microsoft 365. The company is being valued at $2 billion and will trade under AVPT. This last one is a straight software technology merger. For more information about Apex, visit https://apexacquisitioncorp.com/. We have positive free cash flow and are in line with the key ‘Rule of 40’ SaaS industry growth metric,” said Dr. Jiang. 25% of the Fortune 500 uses Avepoint. The market down turn have APXT almost back to pre merger announcement valuing avepoint, a top 5 revenue gainer in software, at almost nothing Reply Replies (3) 9 AvePoint Inc., the largest data management solutions provider for the Microsoft cloud, announced that it has entered into a definitive business combination agreement with Apex Technology Acquisition Corporation (NASDAQ: APXT Stock), a publicly traded special purpose acquisition company.The combined company will be named AvePoint and will be listed on the Nasdaq under the … What Is the Roblox IPO Price Range? 25. SPACs are clearly becoming more mainstream, especially for private companies that want to go public quickly. Cantor Fitzgerald, L.P. is acting as a capital market advisor to Apex. 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. Citigroup Global Markets Inc. (“Citi”), Goldman Sachs & Co. LLC (“Goldman Sachs”), Evercore and Cowen Inc. are acting as capital markets advisors to AvePoint. It’s looking like investors are starting to take notice of blank-check company Apex Technology Acquisition (NASDAQ:APXT) about a month after InvestorPlace highlighted its planned merger with AvePoint. Remote work is under control, and it’s business as usual, Migrate, govern, and optimize Teams to drive real business value, Manage Security and Privacy risk for your enterprise-wide data, Centrally manage and enforce policies for digital and physical records, Ensure Office 365 and SharePoint are enabling business success, Migrate, backup, and manage your Small Business clients with ease, Solutions tailored for your government agency, Transform your learning technology with AvePoint EduTech, Unlimited cloud-to-cloud backup for your critical Microsoft 365, Dynamics 365, and Salesforce services, Modernize your agency’s case management and citizen incident reporting, Automate provisioning, management, and lifecycle for Groups, Sites, and Teams, A one-stop-shop for all your Microsoft 365 workspaces, Discover and visualize your Office 365 sites and content usage. ... Quite normal will move when the merger date comes nearby. AvePoint enables you to collaborate with confidence. Taking its Microsoft cloud data management story “on the road” in the virtual sense of things, Jeff Epstein, Co-CEO and CFO of Apex, and Dr. Tianyi Jiang, AvePoint’s co-founder and CEO, will participate in the Jefferies Software Virtual Bus Tour on Jan. 14 and in the Northland Securities SPAC Investor Conference on Jan. 20. Their combined experience includes more than 100 technology IPOs and mergers involving companies such as Microsoft, Oracle and Twilio. All rights reserved. “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.”. AvePoint helps customers migrate, manage, and protect their Office 365 data. Our SaaS solutions are also available to managed service providers, so they can better support and manage their small and mid-sized business customers. A five-time winner of the Global Microsoft Partner of the Year award, AvePoint offers the only full suite of SaaS solutions to migrate, manage and protect data in Microsoft 365. And we were growing prior to COVID-19 as well. AvePoint expects to generate approximately $148 million in total revenue for the year ending December 31, 2020, which would be an increase of approximately 26% over 2019 revenue. Additional information will be available in the definitive proxy statement/prospectus when it becomes available. Over its nearly 20 year history, AvePoint has been first to market with many digital collaboration technologies, such as SharePoint migration, automated Microsoft Teams management, and the ability to migrate Microsoft Teams/Slack chats into the target channel. The date of the $2 billion merger isn't known yet. All product and company names herein may be trademarks of their registered owners. Goodwin Procter LLP is acting as legal counsel to the private placement agents. RBLX Stock IPO: 12 Things to Know As Roblox Starts Trading Today. In connection with the proposed transaction, Apex intends to file a registration statement on Form S-4 with the SEC, which will also include a document that serves as a prospectus and proxy statement of Apex, referred to as a proxy statement/prospectus. 1125 N. Charles St, Baltimore, MD 21201. In addition to the approximately $352 million held in Apex’s trust account as of September 30, 2020, assuming no redemptions by Apex’s public stockholders, the combined company will benefit from $140 million in proceeds from a group of institutional investors participating in the transaction through a committed private investment (“PIPE”). AvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announces $2bn Merger Transaction includes a fully committed PIPE of $140 mm anchored by top-tier investors share. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Apex's securities, (ii) the risk that the transaction may not be completed by Apex's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Apex, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the approval of the merger agreement by the shareholders of Apex, the satisfaction of the minimum trust account amount following any redemptions by Apex's public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the inability to complete the PIPE transaction, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (vii) the effect of the announcement or pendency of the transaction on AvePoint's business relationships, operating results, and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of AvePoint, (ix) the outcome of any legal proceedings that may be instituted against AvePoint or against Apex related to the merger agreement or the proposed transaction, (x) the ability to maintain the listing of Apex's securities on a national securities exchange, (xi) changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint's business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities, (xiii) the risk of downturns in the market and the technology industry, and (xiv) costs related to the transaction and the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, including with respect to estimated shareholder redemptions. Details about the APXT and AvePoint merger date are developing. “AvePoint has partnered with Microsoft closely for nearly two decades in helping organizations maximize their Microsoft investments,” said Gavriella Schuster, Corporate Vice President, One Commercial Partner, Microsoft. Ex-Dividend Date: N/A: ... relating to its proposed merger with AvePoint, Inc. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, following fintech, agtech and property tech startups. Enable users to self-provision workspaces, apply management and lifecycle policies automatically, Provide internal and external users with secure, remote access to SharePoint. © 2021 AvePoint, Inc. All Rights Reserved. The company is being valued at $2 billion and will trade under AVPT. APXT has a huge client base already, at an estimated 7 million members. 3 Big Stories to Catch Up On. On Nov. 23, Jersey City-based tech company AvePoint agreed to merge with Apex Technology Acquisition Corp (APXT… APXT is a special purpose acquisitions company, or SPAC, which is a shell company that's formed to invest in other companies.. It’s looking like plans to present the AvePoint story to investors has APXT stock gathering a bit of momentum. Additional information about the proposed transaction, including a copy of the merger agreement, will be provided in a Current Report on Form 8-K and in Apex’s registration statement on Form S-4, which will include a document that serves as a prospectus and proxy statement of Apex, referred to as a proxy statement/prospectus, each of which will be filed by Apex with the Securities and Exchange Commission ("SEC") and available at www.sec.gov. AvePoint is a leading global Microsoft strategic cloud partner, with solutions that drive large and mid-market customers’ digital transformation journey in the Microsoft cloud. Sixth Street, the global investment firm which led a $200 million growth equity investment in AvePoint in 2019, will continue as a shareholder in the combined company.

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