APEX Tech Acquisition Inc., a Cayman Islands blank check company, reported early-stage quarterly results following its IPO. The company completed an offering of 11,197,131 units at $10.00 each and a private placement of 208,971 units at $10.00, then deposited $111,971,310 into a Trust Account.
As of February 28, 2026, APEX had cash of $584,080 outside the Trust Account and total assets of $112,555,390, with no current liabilities. It recorded a net loss of $39,322 for the quarter and $47,671 for the six months, mainly formation and operating costs, and no operating revenue.
Management discloses that if an initial business combination is not completed within 15 months of the S-1 effective date, the company must liquidate and return Trust funds to public shareholders, which raises substantial doubt about its ability to continue as a going concern. As of April 6, 2026, 14,255,385 ordinary shares were issued and outstanding.
APEX Tech Acquisition Inc., a Cayman Islands SPAC, completed its IPO and reported an audited balance sheet as of February 27, 2026. The company placed $111,971,310 from the IPO and private units into a trust account and held $584,080 in cash for working capital.
The auditor concluded the financial statement presents the company fairly under U.S. GAAP but highlighted substantial doubt about APEX Tech’s ability to continue as a going concern because it has only 15 months from the IPO registration effectiveness to complete a business combination before mandatory liquidation.
APEX Tech Acquisition Inc. is offering 10,000,000 units at $10.00 per unit (aggregate $100,000,000) with a 45-day over-allotment option for up to 1,500,000 additional units. Each unit consists of one ordinary share and one right to receive one-fourth of one ordinary share upon consummation of an initial business combination.
The offering will deposit $100,000,000 (or $115,000,000 if over-allotment exercised) into a U.S.-based trust account until the earlier of completion of a business combination or liquidation. Public shareholders have redemption rights tied to the trust account amount. The company has 15 months to complete an initial business combination, subject to potential shareholder-approved extensions. The sponsor holds 2,875,000 founder shares purchased for $25,000, creating immediate dilution to public investors.