Technology SPAC Apex Technology Acquisition II withdraws $300 million IPO

Apex Technology Acquisition II, a blank check company targeting software and internet technology, withdrew its plans for an initial public offering on Thursday. It had filed to raise $300 million by offering 30 million units at $10, with each unit containing one share of common stock and one-fourth of a warrant.

Apex Technology Acquisition II was set to be 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's previous SPAC, 2019 IPO Apex Technology Acquisition, completed its merger with data management solutions provider AvePoint (AVPT; -52% from $10 offer price) in July 2021.

The Burlingame, CA-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol APXBU. Goldman Sachs, Cantor Fitzgerald, Mizuho Securities, and SoFi Securities were set to be the joint bookrunners on the deal.