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AP Acquisition Corp - APCA

  • Commons

    $10.03

    +0.10%

    APCA Vol: 125.0

  • Warrants

    $0.18

    +0.00%

    APCA+ Vol: 0.0

  • Units

    $10.08

    +0.00%

    APCA= Vol: 0.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 128.9M
Average Volume: 36.7K
52W Range: $9.86 - $10.11
Weekly %: +0.20%
Monthly %: +0.70%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 197
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant
Trust Size: 15000000.0M

Management

Officers, Directors and Director Nominees.” Certain other Advantage Partners entities have similar or overlapping investment objectives and guidelines, and we may not be presented investment opportunities that may otherwise be suitable for us. Advantage Partners, our affiliate, currently invests and plans to continue to invest third-party capital in a wide variety of investment opportunities globally. There may be overlap of investment opportunities with certain entities that are investment vehicles of, or managed or advised by Advantage Partners, and other entities in which Advantage Partners have invested or may invest. This overlap could create conflicts of interest. In particular, investment opportunities that may otherwise be suitable for us may not be presented to us by Advantage Partners or our sponsor. This overlap could also create conflicts in determining to which entity a particular investment opportunity should be presented. These conflicts may not be resolved in our favor and a potential target business may be presented to another entity prior to its presentation to us. Certain members of our management team may be involved in and have a greater financial interest in the performance of other Advantage Partners entities, and such activities may create conflicts of interest in making decisions on our behalf. Certain members of our management team may be subject to a variety of conflicts of interest relating to their responsibilities to Advantage Partners and its other affiliates. Such individuals may serve as members of management or a board of directors (or in similar such capacity) to various other Advantage Partners entities. Such positions may create a conflict between the advice and investment opportunities provided to such entities and the responsibilities owed to us. The other entities in which such individuals may become involved may have investment objectives that overlap with ours. Furthermore, certain of our principals and employees may have a greater financial interest in the performance of such other Advantage Partners entities than our performance. Such involvement may create conflicts of interest in sourcing investment opportunities on our behalf and on behalf of such other entities. Each of our officers, directors and director nominees presently is, and any of them in the future may become, affiliated with entities engaged in business activities similar to those intended to be conducted by us, including another blank check company, and, accordingly, may have conflicts of interest in determining to which entity a particular business opportunity should be presented. Following the completion of this offering and until we consummate our initial business combination, we intend to engage in the business of identifying and combining with one or more businesses. Each of our officers, directors and director nominees presently has, and any of them in the future may have additional, fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entity, subject to his or her fiduciary 73 TABLE OF CONTENTS duties under Cayman Islands law. Accordingly, they may have conflicts of interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved in our favor and a potential target business may be presented to another entity prior to its presentation to us, subject to their fiduciary duties under Cayman Islands law. In addition, our sponsor, officers and directors may in the future become affiliated with, and are not prohibited from sponsoring, investing or otherwise becoming involved in, other blank check companies that may have acquisition objectives that are similar to ours, including in connection with their initial business combinations, prior to us completing our initial business combination. Our sponsor, officers and directors may also become aware of business opportunities appropriate for presentation to us and other entities to which they owe fiduciary or contractual duties. Accordingly, they may have conflicts of interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved in our favor and a potential target business may be presented to such other blank check companies prior to its presentation to us, subject to our officers’ and directors’ fiduciary duties under Cayman Islands law. Our amended and restated memorandum and articles of association will provide that, to the fullest extent permitted by applicable law: (i) no individual serving as a director or an officer shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as us; and (ii) we renounce our interest in any business combination opportunity offered to any officer or director unless such opportunity is expressly offered to such person solely in his or her capacity as an officer or director of the company and it is an opportunity that we are legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue. Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests. We have not adopted a policy that expressly prohibits our officers, directors, security holders or affiliates from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact, we may enter into a business combination with a target business that is affiliated with our sponsor, our officers or directors, although we do not intend to do so. Nor do we have a policy that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict between their interests and ours. The personal and financial interests of our officers and directors may influence their motivation in timely identifying and selecting a target business and completing a business combination. Consequently, our officers’ and directors’ discretion in identifying and selecting a suitable target business may result in a conflict of interest when determining whether the terms, conditions and timing of a particular business combination are appropriate and in the best interests of the company. If our officers or directors breach their fiduciary duties to us as a matter of Cayman Islands law, we or our shareholders might have a claim against such individuals for infringing on our shareholders’ rights. See the section titled “Description of Securities — Certain Differences in Corporate Law — Shareholders’ Suits” for further information on the ability to bring such claims. However, we might not ultimately be successful in any claim we may make against them for such reason. We may engage in a business combination with one or more target businesses that have relationships with entities that may be affiliated with our sponsor, officers, directors or initial shareholder, which may raise potential conflicts of interest. In light of the involvement of our sponsor, officers and directors with other entities, we may decide to acquire one or more businesses affiliated with our sponsor, officers, directors or initial shareholder. Members of our management team also serve as officers and board members for other entities, including, without limitation, those described under “Management — Conflicts of Interest.” Our sponsor, officers and directors may sponsor, form or participate in other blank check companies similar to ours during the period in which we are seeking an initial business combination. Such entities may compete with us for business combination opportunities. Our sponsor, officers and directors are not currently aware of any specific opportunities for us to complete our initial business combination with any entities with which they are 74 TABLE OF CONTENTS affiliated, and there have been no substantive discussions concerning a business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we would pursue such a transaction if we determined that such affiliated entity met our criteria and guidelines for a business combination as set forth in “Proposed Business — Effecting Our Initial Business Combination — Evaluation of a Target Business and Structuring of Our Initial Business Combination” and such transaction was approved by a majority of our independent and disinterested directors. Despite our agreement to obtain an opinion from an independent investment banking firm that is a member of FINRA or an independent accounting firm regarding the fairness to our company from a financial point of view of a business combination with one or more domestic or international businesses affiliated with our sponsor, officers, directors or initial shareholder, potential conflicts of interest still may exist and, as a result, the terms of the business combination may not be as advantageous to our public shareholders as they would be absent any conflicts of interest. Since our sponsor and certain of our officers and directors will lose their entire investment in us if our initial business combination is not completed (other than with respect to public shares they may acquire during or after this offering), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination. On April 29, 2021, our sponsor made a capital contribution of $25,000, or approximately $0.004 per share, to cover certain expenses on our behalf in consideration of 5,750,000 Class B ordinary shares, par value $0.0001. On October 22, 2021, the sponsor surrendered an aggregate of 1,437,500 founder shares for nil consideration which were cancelled, thereby reducing the aggregate number of founder shares held by the sponsor to 4,312,500, at approximately $0.006 per share. On November 24, 2021, our sponsor transferred 30,000 Class B ordinary shares to each of our three independent directors. These 90,000 shares will not be subject to forfeiture in the event the underwriter’s over-allotment option is not exercised. Prior to the initial investment in the company of $25,000 by the sponsor, the company had no assets, tangible or intangible. The per share price of the founder shares was determined by dividing the amount contributed to the company by the number of founder shares issued. If we increase or decrease the size of this offering, we will effect a share capitalization, a share surrender or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares, on an as-converted basis, at 20% of our issued and outstanding ordinary shares upon the consummation of this offering. The founder shares will be worthless if we do not complete an initial business combination. In addition, our sponsor has committed, pursuant to a written agreement, to purchase an aggregate of 9,500,000 private placement warrants (or 10,625,000 private placement warrants if the underwriter’s over-allotment option is exercised in full), each exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment, at a price of $1.00 per warrant ($9,500,000 in the aggregate or $10,625,000 if the underwriter’s over-allotment option is exercised in full), in a private placement that will close simultaneously with the closing of this offering. If we do not consummate an initial business combination within 18 months from the closing of this offering or during any Extension Period, the private placement warrants will expire worthless. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business, completing an initial business combination and influencing the operation of the business following the initial business combination. This risk may become more acute as the 18-month anniversary of the closing of this offering nears, which is the deadline for our consummation of an initial business combination. Our management may not be able to maintain control of a target business after our initial business combination. Upon the loss of control of a target business, new management may not possess the skills, qualifications or abilities necessary to profitably operate such business. We may structure our initial business combination so that the post-business combination company in which our public shareholders own shares will own less than 100% of the equity interests or assets of a target business, but we will only complete such business combination if the post-business combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for us not to be required to register as an investment company under the Investment Company Act. We will not consider any transaction that does not meet such criteria. Even if the post-business combination company owns 50% or more of the voting 75 TABLE OF CONTENTS securities of the target, our shareholders prior to our initial business combination may collectively own a minority interest in the post-business combination company, depending on valuations ascribed to the target and us in the business combination. For example, we could pursue a transaction in which we issue a substantial number of new Class A ordinary shares in exchange for all of the outstanding capital stock, shares or other equity interests of a target. In this case, we would acquire a 100% interest in the target. However, as a result of the issuance of a substantial number of new Class A ordinary shares, our shareholders immediately prior to such transaction could own less than a majority of our outstanding Class A ordinary shares subsequent to such transaction. In addition, other minority shareholders may subsequently combine their holdings resulting in a single person or group obtaining a larger portion the company’s shares than we initially acquired. Accordingly, this may make it more likely that our management will not be able to maintain control of the target business. Our initial shareholder controls a substantial interest in us and thus may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support. Upon closing of this offering, our initial shareholder will own, on an as-converted basis, 20% of our issued and outstanding ordinary shares (assuming it does not purchase any units in this offering). Accordingly, they may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments to our amended and restated memorandum and articles of association. If our sponsor purchases any units in this offering or if our sponsor purchases any additional Class A ordinary shares in the aftermarket or in privately negotiated transactions, this would increase its control. Neither our sponsor nor, to our knowledge, any of our officers or directors, have any current intention to purchase additional securities, other than as disclosed in this prospectus. Factors that would be considered in making such additional purchases would include consideration of the current trading price of our Class A ordinary shares. Further, because only holders of our Class B ordinary shares will have the right to vote on the appointment of directors and to remove directors prior to our initial business combination, our sponsor will continue to exert control at least until the completion of our initial business combination. In addition, we have agreed not to enter into a definitive agreement regarding an initial business combination without the prior consent of our sponsor. After our initial business combination, it is possible that a majority of our officers and directors will live outside the United States and all of our assets will be located outside the United States. Therefore, investors may not be able to enforce federal securities laws or their other legal rights. It is possible that after our initial business combination, a majority of our officers and directors will reside outside of the United States and all of our assets will be located outside of the United States. As a result, it may be difficult, or in some cases not possible, for investors in the United States to enforce their legal rights, to effect service of process upon all of our officers or directors or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties on our officers and directors under United States laws. We are dependent upon our officers and directors and their loss could adversely affect our ability to operate. Our operations are dependent upon a relatively small group of individuals and, in particular, our officers and directors. We believe that our success depends on the continued service of our officers and directors, at least until we have completed our initial business combination. In addition, our officers and directors are not required to commit any specified amount of time to our affairs and, accordingly, will have conflicts of interest in allocating their time among various business activities, including identifying potential business combinations and monitoring the related due diligence. We do not have an employment agreement with, or key-man insurance on the life of, any of our officers or directors. The unexpected loss of the services of one or more of our officers or directors could have a detrimental effect on us. Members of our management team and board of directors have significant experience as founders, board members, officers or executives of other companies. As a result, certain of those persons may have been, and may become, involved in proceedings, investigations and litigation relating to the business or administrative affairs of the companies with which they were, are, or may in the future be, affiliated. This may have an adverse effect on us, which may impede our ability to consummate an initial business combination. During the course of their careers, members of our management team and board of directors have had significant experience as founders, board members, officers or executives of other companies. As a result of 76 TABLE OF CONTENTS their involvement and positions in these companies and government agencies, certain persons may have been, and may become, involved in litigation, investigations or other proceedings arising out of or relating to the business or administrative affairs of such companies or transactions entered into by such companies. Any such litigation, investigations or other proceedings may divert our management team’s and board’s attention and resources away from identifying and selecting a target business or businesses for our initial business combination and may negatively affect our reputation, which may impede our ability to complete an initial business combination. Involvement of members of our management, our directors, and companies with which they are affiliated in civil disputes, litigation, government or other investigations or other actual or alleged misconduct unr

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q FORM 10-Q 2022-05-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465922061070/apca-20220331x10q.htm
10-K FORM 10-K 2022-03-29 https://www.sec.gov/Archives/edgar/data/1862993/000110465922039437/tm229734d1_10k.htm
SC 13G SC 13G 2022-02-10 https://www.sec.gov/Archives/edgar/data/1862993/000110465922019171/tm226158d1_sc13g.htm
8-K FORM 8-K 2022-02-04 https://www.sec.gov/Archives/edgar/data/1862993/000110465922011647/tm224772d1_8k.htm
8-K FORM 8-K 2022-01-28 https://www.sec.gov/Archives/edgar/data/1862993/000110465922008815/tm2136417d1_8k.htm
SC 13G SC 13G 2021-12-29 https://www.sec.gov/Archives/edgar/data/1862993/000110465921154167/tm2136362d1_sc13g.htm
SC 13G FORM SC 13G 2021-12-27 https://www.sec.gov/Archives/edgar/data/1862993/000106299321013560/formsc13g.htm
8-K FORM 8-K 2021-12-22 https://www.sec.gov/Archives/edgar/data/1862993/000110465921152388/tm2119394d17_8k.htm
424B4 424B4 2021-12-20 https://www.sec.gov/Archives/edgar/data/1862993/000110465921151542/tm2119394-7_424b4.htm
EFFECT 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/999999999521004728/xslEFFECTX01/primary_doc.xml
CERT NYSE CERTIFICATION 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000087666121001762/APCA121621.pdf
3 OWNERSHIP DOCUMENT 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465921150201/xslF345X02/tm2119394-16_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465921150199/xslF345X02/tm2119394-15_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465921150198/xslF345X02/tm2119394-14_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465921150195/xslF345X02/tm2119394-13_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465921150194/xslF345X02/tm2119394-11_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465921150190/xslF345X02/tm2119394-12_3seq1.xml
8-A12B 8-A12B 2021-12-16 https://www.sec.gov/Archives/edgar/data/1862993/000110465921150187/tm2119394d8_8a12b.htm
CORRESP 2021-12-14 https://www.sec.gov/Archives/edgar/data/1862993/000110465921149347/filename1.htm
CORRESP 2021-12-14 https://www.sec.gov/Archives/edgar/data/1862993/000110465921149335/filename1.htm
CORRESP 2021-12-01 https://www.sec.gov/Archives/edgar/data/1862993/000110465921145370/filename1.htm
S-1 FORM S-1 2021-12-01 https://www.sec.gov/Archives/edgar/data/1862993/000110465921145366/tm2119394-4_s1.htm
UPLOAD 2021-11-30 https://www.sec.gov/Archives/edgar/data/1862993/000000000021014392/filename1.pdf
DRS/A 2021-11-08 https://www.sec.gov/Archives/edgar/data/1862993/000110465921135436/filename1.htm
DRS 2021-06-11 https://www.sec.gov/Archives/edgar/data/1862993/000110465921080205/filename1.htm