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AvePoint, the largest Microsoft 365 data management provider, announced the successful completion of its business combination with Apex Technology Acquisition Corporation.
Approved by Apex shareholders on June 30, 2021, the merger will allow AvePoint to trade on Nasdaq under the symbols 'AVPT' and 'AVPTW' starting July 2, 2021.
The transaction secured approximately $492 million in gross proceeds, enabling significant investments in product innovation and international expansion.
AvePoint aims to capitalize on the growing demand for secure collaboration solutions in the hybrid work environment.
Apex Technology Acquisition Corp. (NASDAQ: APXT) urges shareholders to vote in favor of its proposed business combination with AvePoint, Inc. as detailed in the Proxy Statement dated June 2, 2021. The board recommends voting for all related proposals, crucial for the business combination's approval. To encourage participation, Apex and AvePoint will donate $1 per vote to Girls Who Code, up to $100,000. Voting is open until June 30, 2021, and all votes matter, regardless of the number of shares owned.
AvePoint, the largest data management solutions provider for Microsoft 365, has appointed Stuart Robertson as its first Chief People Officer. Robertson, with over 20 years of HR experience, will enhance talent management and employee performance as the company prepares for its upcoming public listing on NASDAQ. Prior to this role, he served at Richemont Americas, driving digital transformation and talent mobility. His appointment aligns with AvePoint's focus on scaling its workforce and improving employee experience in the face of global expansion and product innovation.
Apex Technology Acquisition Corp. (NASDAQ: APXT) is urging all stockholders to vote in favor of its business combination with AvePoint, Inc. The voting deadline is June 30, 2021, with stockholders eligible if they held shares as of June 1, 2021. Voting can be done online, by phone, or by mail using the control number provided in their Voting Instruction Form. If approved, shares will convert to those of the merged entity, which will trade as AVPT. Apex emphasizes the importance of every vote, encouraging prompt participation.
Apex Technology Acquisition Corp. (NASDAQ: APXT) has announced that its registration statement for the merger with AvePoint, the largest data management solutions provider for Microsoft 365, has been approved by the SEC. A special meeting for stockholders will be held on June 30, 2021, to vote on the proposed merger. If approved, the business combination is expected to close soon after, with the new entity operating as AvePoint, Inc. The combined company’s shares will be listed on Nasdaq under the symbols 'AVPT' and 'AVPTW.'
Apex Technology Acquisition Corp. (NASDAQ: APXT) and AvePoint have announced upcoming presentations at key investor conferences. Apex will present at the William Blair Growth Stock Conference on June 1, 2021, Cowen Annual TMT Conference on June 2, and Evercore Inaugural TMT Conference on June 7. Live audio webcasts will be accessible on Apex's Investor Relations website post-event. AvePoint provides comprehensive data management solutions for the Microsoft cloud, serving over 7 million users, including many Fortune 500 companies.
Apex Technology Acquisition Corporation (NASDAQ: APXT) and AvePoint announced first-quarter results for 2021, showing strong growth. AvePoint's total revenue reached $38.8 million, a 19% increase year-over-year, with SaaS revenue soaring 78% to $18.3 million. The company reported a GAAP operating loss of $5.9 million and a non-GAAP operating loss of $2.6 million. Cash reserves stood at $64.6 million. Due to robust performance, AvePoint raised its 2021 revenue guidance from $193 million to $194 million.
Apex Technology Acquisition Corp. (NASDAQ: APXT) has announced that AvePoint, the largest data management solutions provider for the Microsoft cloud, will participate in the Needham 16th Annual Virtual Technology and Media Conference on May 17. Dr. Tianyi Jiang, AvePoint’s co-founder and CEO, is slated to present at 8:00 AM ET and will hold one-on-one meetings afterward. Interested parties can access the live webcast via the Apex Investor Relations website, with a replay available for 30 days.
AvePoint reported preliminary financial results for Q1 2021, revealing total revenue between $38.4 million and $38.8 million, with a 49% year-over-year growth in subscription revenue, forecasted at $26.7 million to $27.0 million. Annual recurring revenue (ARR) is anticipated between $128.0 million and $129.2 million, marking a 32.6% increase. Despite a GAAP operating loss of $(11.9) million to $(4.1) million, cash reserves stand at approximately $65.8 million. The revenue guidance for FY 2021 has been increased to $194.0 million.
