Please note that this is not investment advice.
This stock is about to go off, based on my initial research it is indeed a company owned by Jeffrey E. Epstein. They are a blank check acquisition company, which recently looked to broker a deal to acquire AvePoint which was noted by WeissLaw to be valued at 2 billion in total asset value. The stock is currently trading at a market cap of $490M approx as of premarket this morning.
Please note that I do currently own shares with an average price of 12.50 as of this writing.
My thoughts:
Risky investment considering their potential legal troubles ahead.
Volume is trending and could/will explode.
Currently trading under book asset value.
The risk-reward looks good here, but I wouldn't dip my toes ALLTHEWAYIN.
I wouldn't buy the top here, I'd like to find an entry on an attempted fib retracement, but honestly, we might not see it.
Stay careful out there.
$OMGSMO
This stock is about to go off, based on my initial research it is indeed a company owned by Jeffrey E. Epstein. They are a blank check acquisition company, which recently looked to broker a deal to acquire AvePoint which was noted by WeissLaw to be valued at 2 billion in total asset value. The stock is currently trading at a market cap of $490M approx as of premarket this morning.
Please note that I do currently own shares with an average price of 12.50 as of this writing.
My thoughts:
Risky investment considering their potential legal troubles ahead.
Volume is trending and could/will explode.
Currently trading under book asset value.
The risk-reward looks good here, but I wouldn't dip my toes ALLTHEWAYIN.
I wouldn't buy the top here, I'd like to find an entry on an attempted fib retracement, but honestly, we might not see it.
Stay careful out there.
$OMGSMO
Comment:
This information can be validated using the following resources:
SEC Release
CEO Interview
CEO IPO Discussion
Investors Pres
BusinessWire
SEC Release
CEO Interview
CEO IPO Discussion
Investors Pres
BusinessWire
Trade active:
I'm still actively holding this position.
AvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announced a $2bn Merger in a definite business combination with Apex Technology Acquisition Corporation (NASDAQ: APXT). The post-closing entity will be listed on NASDAQ under the new ticker AVPT and maintain the AvePoint name. The transaction has been approved by the Board of Directors of Apex, as well as the Board of Directors of AvePoint and it is expected to finalize in Q1 2021.
// About AvePoint
AvePoint is the largest data management solutions provider for the Microsoft Cloud, with over 1,300 employees in 29 global offices. Key takeaway:
AvePoint was founded in 2001 as a company to help ease the complexity of SharePoint installations, which at the time were all on-premise. Today, it has adapted to the shift to the cloud as a SaaS tool and primarily acts as a policy layer enabling companies to make sure employees are using these tools in a compliant way
Company's Footprint
Huge diversified blue-chip client base, ~7 million members (as of Sep 30, 2020) with 16k accounts and 25% of Fortune 500 using the company’s services. 7M users represent a 3% or 250M Microsoft 365 client base with an estimated addressable market of $33 billion by 2022 (according to IDC). The Company sells directly to large and mid-market enterprises, and its solutions are also available to managed services providers on more than 100 cloud marketplaces globally. Regarding Microsoft, the company “Bridges the Gap Between What Microsoft Cloud Offers and What the Enterprise Requires”
Blue-Chip Client Base
Compared to other recent SPAC deals and business combinations we just saw, AvePoint has indeed a great track record. Expected 2020 revenues @ USD 148M, a + 26% YoY increase (78% recurring revenues). There are 212 public software companies and AvePoint is one of 5 that is growing at a rate of more than 25% revenue while maintaining a 14% EBIT margin and 30% ARR growth. The company is projecting significant growth for the next two years with revenue estimates of $257 million and ARR of $220 million by the end of 2022
Strong Financials
Great market trends. Explosive data growth, increasing data regulations, shift to the cloud, hyper-growth of Microsoft Teams were all trends that fuelled the growth prior to the pandemic. The impacts of COVID-19 have greatly accelerated these trends
Current and Future Potential
The company raised $200 million in January this year led by Sixth Street Partners (formerly TPG Sixth Street Partners), with additional participation from prior investor Goldman Sachs. The company has raised a total of $294 million in the capital before the reverse merger announcement
// About APXT
Outstanding management: led by Oracle CFO Jeff Epstein (*cough* didn’t kill himself *cough*) and former Goldman Sachs Head of Technology Investment Banking Brad Koenig. Their combined experience includes more than 100 technology IPOs, Served on 20 boards and advisory boards, and saw mergers involving companies such as Microsoft, Oracle, eBay, Dell, Yahoo! and Twilio
Apex’s balance of $352 million-plus a $140 million additional private investment will be handed over to AvePoint. Once transaction fees and other considerations are paid for, AvePoint is expected to have $252 million on its balance sheet. Existing AvePoint shareholders will own approximately 72% of the combined entity, with the balance held by the Apex SPAC and the private investment owners. The implied enterprise value of 9.0x 2021E revenue with very attractive valuation multiples compared to peers
Transaction Details (Advisors)
Evercore Group L.L.C., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Evercore and Cowen In
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