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Alpha Partners Technology Merger Corp. - APTM

  • Commons

    $9.68

    -0.41%

    APTM Vol: 500.0

  • Warrants

    $0.71

    -0.69%

    APTMW Vol: 102.0

  • Units

    $9.91

    +0.10%

    APTMU Vol: 1.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 274.6M
Average Volume: 52.9K
52W Range: $9.55 - $9.92
Weekly %: -0.21%
Monthly %: +0.10%
Inst Owners: nan

Info

Target: Searching
Days Since IPO: 130
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-third of one redeemable warrant
Trust Size: 25000000.0M

Management

Officers, Directors and Director Nominees,” “Management—Conflicts of Interest” and “Certain Relationships and Related Party Transactions.” Our executive 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 directors, executive officers, 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 prospective partner business that is affiliated with our sponsor, our directors or executive officers, 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 directors and officers may influence their motivation in timely identifying and selecting a prospective partner business and completing a business combination. Consequently, our directors’ and officers’ discretion in identifying and selecting a suitable prospective partner 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 our shareholders’ best interest. If this were the case, it would be a breach of their fiduciary duties to us as a matter of Cayman Islands law and 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 prospective partner businesses that have relationships with entities that may be affiliated with our sponsor, executive officers, directors or initial shareholders which may raise potential conflicts of interest. In light of the involvement of our sponsor, executive officers and directors with other entities, we may decide to acquire one or more businesses affiliated with our sponsor, executive officers, directors or initial shareholders. Our directors also serve as officers and board members for other entities, including, without limitation, those described under “Management—Conflicts of Interest.” Our sponsor and our officers and directors may sponsor or form other special purpose acquisition companies similar to ours or may pursue other business or investment ventures 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 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 pursuing, any transaction with any affiliated entities, we would pursue such a transaction if we determined that such affiliated entity met our criteria for a business combination as set forth in “Proposed Business—Effecting Our Initial Business Combination—Evaluation of a Prospective Partner 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 or an independent valuation or 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, executive officers, directors or initial shareholders, 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, executive 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 70 Table of Contents offering), a conflict of interest may arise in determining whether a particular business combination prospective partner is appropriate for our initial business combination. On February 5, 2021, an affiliate of our sponsor paid $25,000, or approximately $0.003 per unit, to cover for certain offering costs in consideration for 7,187,500 founder units consisting of 7,187,500 founder shares and 2,395,833 founder warrants. Prior to the initial investment in the company of $25,000 by the affiliate of our sponsor, the company had no assets, tangible or intangible. The per unit price of the founder units was determined by dividing the amount contributed to the company by the number of founder units issued. The founder units 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 800,000 private placement units consisting of 800,000 Class A ordinary shares and 266,667 private placement warrants (or 875,000 private placement units consisting of 875,000 Class A ordinary shares and 291,667 private placement warrants if the underwriters’ over-allotment option is exercised in full), at a purchase price of $10.00 per unit in a private placement that will close simultaneously with the closing of this offering. If we do not consummate an initial business within 24 months from the closing of this offering, the private placement units (and the underlying securities) will expire worthless. The personal and financial interests of our executive officers and directors may influence their motivation in identifying and selecting a prospective partner business combination, 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 24-month anniversary of the closing of this offering nears, which is the deadline for our consummation of an initial business combination. Our team may not be able to maintain control of a prospective partner business after our initial business combination. Upon the loss of control of a prospective partner 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 prospective partner 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 prospective partner or otherwise acquires a controlling interest in the prospective partner 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 securities of the prospective partner, our shareholders prior to the completion of our initial business combination may collectively own a minority interest in the post-business combination company, depending on valuations ascribed to the prospective partner 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 prospective partner. In this case, we would acquire a 100% interest in the prospective partner. 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 issued and 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 share of the company’s shares than we initially acquired. Accordingly, this may make it more likely that our team will not be able to maintain control of the prospective partner business. Changes in the market for directors and officers liability insurance could make it more difficult and more expensive for us to negotiate and complete an initial business combination. In recent months, the market for directors and officers liability insurance for special purpose acquisition companies has changed. Fewer insurance companies are offering quotes for directors and officers liability coverage, the premiums charged for such policies have generally increased and the terms of such policies have generally become less favorable. There can be no assurance that these trends will not continue. The increased cost and decreased availability of directors and officers liability insurance could make it more difficult and more expensive for us to negotiate an initial business combination. In order to obtain directors and officers liability insurance or modify its coverage as a result of becoming a public company, the post-business combination entity might need to incur greater expense, accept less favorable terms or both. However, any failure to obtain adequate directors and officers liability insurance could have an adverse impact on the post-business combination’s ability to attract and retain qualified officers and directors. 71 Table of Contents In addition, even after we were to complete an initial business combination, our directors and officers could still be subject to potential liability from claims arising from conduct alleged to have occurred prior to the initial business combination. As a result, in order to protect our directors and officers, the post-business combination entity may need to purchase additional insurance with respect to any such claims (“run-off insurance”). The need for run-off insurance would be an added expense for the post-business combination entity, and could interfere with or frustrate our ability to consummate an initial business combination on terms favorable to our investors. 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 have been, may be, or may become, involved in proceedings, investigations and litigation relating to the business 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 their involvement and positions in these companies, certain persons were, are now, or may in the future become, involved in litigation, investigations or other proceedings arising out of or relating to the business 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. Risks Relating to Corporate Governance We do not have a specified maximum redemption threshold. The absence of such a redemption threshold may make it possible for us to complete our initial business combination with which a substantial majority of our shareholders do not agree. Our amended and restated memorandum and articles of association will not provide a specified maximum redemption threshold, except that in no event will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 (so that we do not then become subject to the SEC’s “penny stock” rules). As a result, we may be able to complete our initial business combination even though a substantial majority of our public shareholders do not agree with the transaction and have redeemed their shares or, if we seek shareholder approval of our initial business combination and do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, have entered into privately negotiated agreements to sell their shares to our sponsor, officers, directors, advisors or any of their affiliates. In the event the aggregate cash consideration we would be required to pay for all Class A ordinary shares that are validly submitted for redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us, we will not complete the business combination or redeem any shares, all Class A ordinary shares submitted for redemption will be returned to the holders thereof, and we instead may search for an alternate business combination. In order to effectuate an initial business combination, blank check companies have, in the recent past, amended various provisions of their charters and other governing instruments, including their warrant agreements. We may seek to amend our amended and restated memorandum and articles of association or governing instruments in a manner that will make it easier for us to complete our initial business combination that our shareholders may not support. In order to effectuate a business combination, blank check companies have, in the recent past, amended various provisions of their charters and governing instruments, including their warrant agreements. For example, blank check companies have amended the definition of business combination, increased redemption thresholds, extended the time to consummate a business combination and, with respect to their warrants, amended their warrant agreements to require the warrants to be exchanged for cash and/or other securities. Amending our amended and restated memorandum and articles of association will require at least a special resolution of our shareholders as a matter of Cayman Islands law, meaning the approval of holders of at least two-thirds of our ordinary shares who attend and vote at a general meeting of the company, and amending our warrant agreement will require a vote of holders of at least 50% of the public warrants and, solely with respect to any amendment to the terms of the private placement warrants or any provision of the warrant agreement with respect to the private placement warrants, 50% 72 Table of Contents of the number of the then outstanding private placement warrants. In addition, our amended and restated memorandum and articles of association will require us to provide our public shareholders with the opportunity to redeem their public shares for cash if we propose an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of this offering, or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares or pre-initial business combination activity. To the extent any of such amendments would be deemed to fundamentally change the nature of any of the securities offered through this registration statement, we would register, or seek an exemption from registration for, the affected securities. The provisions of our amended and restated memorandum and articles of association that relate to our pre-business combination activity (and corresponding provisions of the agreement governing the release of funds from our trust account) may be amended with the approval of a special resolution which requires the approval of the holders of at least two-thirds of our ordinary shares who attend and vote at a general meeting of the company, which is a lower amendment threshold than that of some other blank check companies. It may be easier for us, therefore, to amend our amended and restated memorandum and articles of association to facilitate the completion of an initial business combination that some of our shareholders may not support. Some other blank check companies have a provision in their charter which prohibits the amendment of certain of its provisions, including those which relate to a company’s pre-business combination activity, without approval by a certain percentage of the company’s shareholders. In those companies, amendment of these provisions typically requires approval by between 90% and 100% of the company’s shareholders. Our amended and restated memorandum and articles of association provides that any of its provisions related to pre-business combination activity (including the requirement to deposit proceeds of this offering and the sale of the private placement units into the trust account and not release such amounts except in specified circumstances, and to provide redemption rights to public shareholders as described herein) may be amended if approved by special resolution, meaning holders of at least two-thirds of our ordinary shares who attend and vote at a general meeting of the company, and corresponding provisions of the trust agreement governing the release of funds from our trust account may be amended if approved by holders of at least two-thirds of our ordinary shares who attend and vote at a general meeting of the company; provided that the provisions of our amended and restated memorandum and articles of association governing the appointment or removal of directors prior to our initial business combination may only be amended by a special resolution passed by holders representing at least two-thirds of our issued and outstanding Class B ordinary shares. Our initial shareholders, and their permitted transferees, if any, who will collectively beneficially own, on an as-converted basis, 20% of our Class A ordinary shares upon the closing of this offering (excluding the private placement shares underlying the private placement units), will participate in any vote to amend our amended and restated memorandum and articles of association and/or trust agreement and will have the discretion to vote in any manner they choose. As a result, we may be able to amend the provisions of our amended and restated memorandum and articles of association which govern our pre-business combination behavior more easily than some other blank check companies, and this may increase our ability to complete a business combination with which you do not agree. Our shareholders may pursue remedies against us for any breach of our amended and restated memorandum and articles of association. Our sponsor, executive officers, directors and director nominees have agreed, pursuant to a written agree

Holder Stats

1 0
% of Shares Held by All Insider NaN
% of Shares Held by Institutions NaN
% of Float Held by Institutions NaN
Number of Institutions Holding Shares NaN

Institutional Holders

Reporting Date Hedge Fund Shares Held Market Value % of Portfolio Quarterly Change in Shares Ownership in Company
2021-11-16 Oaktree Capital Management LP 200,000 $1,940,000 0.0% 0 0.551%
2021-11-16 Whitebox Advisors LLC 75,000 $730,000 0.0% 0 0.207%
2021-11-15 Ancora Advisors LLC 31,459 $300,000 0.0% 0 0.087%
2021-11-15 Berkley W R Corp 24,726 $240,000 0.0% 0 0.068%
2021-11-15 Taconic Capital Advisors LP 750,000 $7,280,000 0.2% 0 2.066%
2021-11-12 Security Benefit Life Insurance Co. KS 399,500 $3,880,000 0.2% 0 1.100%

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q 10-Q 2021-11-22 https://www.sec.gov/Archives/edgar/data/1845550/000119312521337015/d250077d10q.htm
8-K 8-K 2021-11-22 https://www.sec.gov/Archives/edgar/data/1845550/000119312521337004/d264317d8k.htm
NT 10-Q FORM NT 10-Q 2021-11-15 https://www.sec.gov/Archives/edgar/data/1845550/000095010321017826/dp161740_nt10q.htm
8-K FORM 8-K 2021-09-17 https://www.sec.gov/Archives/edgar/data/1845550/000095010321014117/dp157990_8k.htm
10-Q FORM 10-Q 2021-09-10 https://www.sec.gov/Archives/edgar/data/1845550/000119312521270147/d185806d10q.htm
8-K FORM 8-K 2021-08-11 https://www.sec.gov/Archives/edgar/data/1845550/000095010321012196/dp156048_8k.htm
SC 13G SC 13G 2021-08-09 https://www.sec.gov/Archives/edgar/data/1845550/000110465921102121/tm2124487d1_sc13g.htm
SC 13G 2021-08-06 https://www.sec.gov/Archives/edgar/data/1845550/000131924421000236/APTM_SC13G.htm
SC 13G 2021-08-06 https://www.sec.gov/Archives/edgar/data/1845550/000104106221000121/ACM_13G_APTM.txt
8-K FORM 8-K 2021-08-05 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011992/dp155842_8k.htm
8-K FORM 8-K 2021-07-30 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011623/dp155489_8k.htm
424B4 FORM 424B4 2021-07-29 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011492/dp155277_424b4.htm
EFFECT 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/999999999521002925/xslEFFECTX01/primary_doc.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011295/xslF345X02/dp154786_3-sponsorllc.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011294/xslF345X02/dp154790_3-vu.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011293/xslF345X02/dp154787_3-obrien.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011292/xslF345X02/dp154785_3-brotman.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011291/xslF345X02/dp154791_3-rice.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011290/xslF345X02/dp154789_3-krna.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011289/xslF345X02/dp154788_3-ryan.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011288/xslF345X02/dp154793_3-grimes.xml
3 FORM 3 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011287/xslF345X02/dp154792_3-wolstencroft.xml
CERT 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000135445721000856/8A_cert_APTM.pdf
8-A12B FORM 8-A12B 2021-07-27 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011196/dp154781_8a12b.htm
CORRESP 2021-07-23 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011061/filename1.htm
CORRESP 2021-07-23 https://www.sec.gov/Archives/edgar/data/1845550/000095010321011059/filename1.htm
CORRESP 2021-07-22 https://www.sec.gov/Archives/edgar/data/1845550/000095010321010920/filename1.htm
CORRESP 2021-07-20 https://www.sec.gov/Archives/edgar/data/1845550/000095010321010811/filename1.htm
CORRESP 2021-07-20 https://www.sec.gov/Archives/edgar/data/1845550/000095010321010809/filename1.htm
CORRESP 2021-07-14 https://www.sec.gov/Archives/edgar/data/1845550/000095010321010480/filename1.htm
S-1/A FORM S-1/A 2021-07-14 https://www.sec.gov/Archives/edgar/data/1845550/000095010321010479/dp154237_s1a5.htm
UPLOAD 2021-07-06 https://www.sec.gov/Archives/edgar/data/1845550/000000000021008297/filename1.pdf
CORRESP 2021-06-22 https://www.sec.gov/Archives/edgar/data/1845550/000095010321009139/filename1.htm
UPLOAD 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845550/000000000021007389/filename1.pdf
S-1/A FORM S-1/A 2021-06-02 https://www.sec.gov/Archives/edgar/data/1845550/000095010321008329/dp150928_s1a4.htm
CORRESP 2021-03-26 https://www.sec.gov/Archives/edgar/data/1845550/000095010321004658/filename1.htm
S-1/A FORM S-1/A 2021-03-26 https://www.sec.gov/Archives/edgar/data/1845550/000095010321004656/dp148470_s1a.htm
UPLOAD 2021-03-25 https://www.sec.gov/Archives/edgar/data/1845550/000000000021003617/filename1.pdf
S-1/A FORM S-1/A 2021-03-22 https://www.sec.gov/Archives/edgar/data/1845550/000095010321004314/dp148088_s1a.htm
CORRESP 2021-03-19 https://www.sec.gov/Archives/edgar/data/1845550/000095010321004315/filename1.htm
UPLOAD 2021-03-15 https://www.sec.gov/Archives/edgar/data/1845550/000000000021003067/filename1.pdf
S-1/A FORM S-1/A 2021-03-15 https://www.sec.gov/Archives/edgar/data/1845550/000095010321003963/dp147733_s1a.htm
S-1 FORM S-1 2021-02-17 https://www.sec.gov/Archives/edgar/data/1845550/000095010321002422/dp146239_s1.htm