AvePoint Financial and Strategic Overview
Summary Transaction Overview
Transaction
Description
Transaction
Structure
AvePoint, Inc. ("AvePoint") and Apex Technology Acquisition Corp., "Apex" (NASDAQ: APXT) to combine to
create a publicly listed company with a ~$2bn market capitalization (1)
■ Post-closing entity will be listed on NASDAQ under new ticker, AVPT, and maintain the AvePoint name
The transaction is expected to close in the first quarter of 2021
Implied enterprise value of 9.0x 2021E revenue
Existing AvePoint shareholders will be paid $257mm in cash consideration and issued 143.4mm shares in new
AvePoint shares
Transaction to be funded by a combination of approximately $352mm(2) Apex cash in trust and committed PIPE
of $140 mm from institutional investors, led by Federated Kaufmann
AvePoint is expected to have $252mm in cash on its balance sheet pro forma for the transaction
Pro Forma
Ownership
72% existing shareholders, 21% Apex public shareholders and founder shares and 7% PIPE investors
Governance
AvePoint co-founder and current CEO Tianyi ("TJ") Jiang will continue to serve as CEO
AvePoint co-founder and current Executive Chairman Xunkai ("Kai") Gong will continue to serve as Executive
Chairman
■ Jeff Epstein to join the Board of Directors and Brad Koenig to join as Board Observer
■ Expected Board of Directors: 7 members, of which majority are independents
1) Based on a $10.00 share price. 2) As of 30-Sep-2020. Note: Refer to transaction summary page for further detail.
▲ AvePoint
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