Sidley, Graubard Steer Fintech Co.'s Go-Public At $4.7B Value

Law360 (February 22, 2021, 6:17 PM EST) -- Financial technology company Apex Clearing said Monday it plans to go public at a $4.7 billion valuation via a merger with a blank-check company, a deal inked with guidance from Sidley Austin LLP and Graubard Miller.

Once the deal closes, Texas-based Apex Clearing Holdings LLC will list on the New York Stock Exchange under the symbol APX, the announcement said. Apex is merging with Northern Star Investment Corp. II, a New York-based blank-check company, also known as a special-purpose acquisition company, or SPAC.

SPACs are shell entities that raise money through an initial public offering for a future business combination. They...

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