RTTNews | Nov 27, 2020 09:52AM EST

09:52 Friday, November 27, 2020 (RTTNews.com) - Shares of Apex Technology Acquisition Corp. (APXT) are surging over 35% on Friday morning. The special purpose acquisition company has reached a merger deal with AvePoint, Inc., a data management solutions provider for the Microsoft cloud.

APXT is currently trading at $14.90, up $3.91 or 35.58%, on the Nasdaq.

Upon closing the transaction, the combined company will be named AvePoint and will remain a publicly traded company listed on the Nasdaq Stock Market under a new ticker symbol, "AVPT." The deal values the combined company at $2 billion.

The combined company is going to be led by AvePoint co-founder and CEO Dr. Tianyi Jiang. AvePoint co-founder Kai Gong will serve as Executive Chairman of the company.

Apex is led by former Oracle CFO Jeff Epstein and former Goldman Sachs Head of Technology Investment Banking Brad Koenig.

Read the original article on RTTNews ( https://www.rttnews.com/3149114/stock-alert-apex-technology-acquisition-jumps-35.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved