Quarterly ResultJul 15, 2026, 02:11 PM
APEX Tech Acquisition Reports Q3 Net Income $68K; IPO Proceeds $115M
AI Summary
APEX Tech Acquisition Inc., a blank check company, reported its unaudited financial results for the three and nine months ended May 31, 2026. Following its IPO in February and April 2026, the company generated $115 million in gross proceeds, which are held in a Trust Account. It recorded a net income of $68,355 for the three months ended May 31, 2026, primarily from interest earned on these investments, while incurring general and administrative expenses. Management also highlighted substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within 15 months.
Key Highlights
- Net income for the three months ended May 31, 2026, was $68,355.
- Net income for the nine months ended May 31, 2026, was $20,684.
- Investments held in Trust Account totaled $115,658,787 as of May 31, 2026.
- Gross proceeds from IPO and over-allotment reached $115,000,000.
- General and administrative expenses for the three months were $590,432.
- Company has not commenced operations, focused on identifying a target.
- Management noted substantial doubt about the company's ability to continue as a going concern.
Price Impact
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