Apex Technology Acquisition and AvePoint, the largest data management solutions provider for Microsoft 365, today announced preliminary, selected unaudited financial results for the full year ended Dec. 31. The information was released in support of the companies’ pending business combination.
Full year total revenue is expected to be in the range of $148 million to $151 million, up 29 percent year-over-year at the mid-point. AvePoint had forecasted $148 million at the announcement of the business combination in November 2020. AvePoint also expects cash, cash equivalents and short-term investments to be approximately $70 million as of Dec. 31.
The business combination is expected to close late in the first or early in the second quarter, pending shareholder approvals, the companies said. If approved, the combined company would have an estimated market value of approximately $2 billion. The deal includes a fully committed PIPE of $140 million. Read more.
