Technology-focused Apex Technology Acquisition II files for a $300 million IPO

Apex Technology Acquisition II, a blank check company targeting software and internet technology, filed on Wednesday with the SEC to raise up to $300 million in an initial public offering.

The Burlingame, CA-based company plans to raise $300 million by offering 30 million units at $10 per unit. Each unit contains one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $383 million.

Apex Technology Acquisition II is led by co-CEO and CFO Jeff Epstein, an Operating Partner at Bessemer Venture Partners, and co-CEO and Director Brad Koenig, the co-founder and former CEO of FoodyDirect.com. The team previously lead Apex Technology Acquisition, which raised $305 million in 2019 and completed its merger with data management solutions provider AvePoint (AVPT) in July 2021. The company aims to leverage management's experience to target software and internet technology businesses. 

The company was founded in 2021 and plans to list on the Nasdaq under the symbol APXBU. Apex Technology Acquisition II filed confidentially on March 12, 2021. Goldman Sachs, Cantor Fitzgerald, Mizuho Securities, and SoFi Securities are the joint bookrunners on the deal.