APEX Tech Acquisition (NYSE: TRAD) agreed on October 20, 2026, to merge with Korai Flix at a $3.5 billion pre-money equity valuation.
The companies expect closing in the first quarter of 2027, subject to both companies’ shareholder approvals and regulatory approval. Both boards unanimously approved the transaction, which has no minimum cash condition. Korai would become APEX’s wholly owned subsidiary, and APEX would move its domicile from the Cayman Islands to Delaware and become Krflix Group. The combined company’s Class A shares are expected to list on the NYSE, subject to listing requirements.
APEX holders would receive the same number of Class A shares. Korai holders would receive combined-company Class A or Class B shares, respectively, carrying one or 20 votes per share. Korai’s AI-powered entertainment platform had approximately 26.0 million registered users across 15 Asian countries or regions as of June 30, 2026.