Aperture AC Signs $150M SPAC Merger with Atlantic HPC Group
APUR is trading near its 52-week low of $9.88 (1.4% above the low).
Summary
Aperture AC announced a definitive merger agreement with Atlantic HPC Group, a bitcoin mining and AI infrastructure company, in a deal valued at $150 million. The combined company is expected to list on Nasdaq as AHPC in Q1 2027.
Key Events · M&A and Partnerships · APUR
-
Definitive Merger Agreement Signed
Aperture AC entered into a Business Combination Agreement dated September 10, 2026 with Atlantic HPC Group Inc., a bitcoin mining and AI infrastructure company, with Atlantic surviving as a wholly owned subsidiary.
-
$150M Pre-Money Valuation
Atlantic stockholders will receive 15,000,000 shares of Aperture Class A common stock at $10.00 per share, representing a $150 million pre-money equity value, with 100% equity rollover.
-
Up to 6M Earnout Shares
Atlantic stockholders can earn up to 6,000,000 additional shares: 3M upon a 5 MW Phase I data center lease, 1.5M if VWAP reaches $12.50, and 1.5M if VWAP reaches $15.00 over any three consecutive months.
-
Pro Forma Enterprise Value of $227M
Assuming 0% redemptions, the combined company would have 32.4 million shares outstanding, $324 million pro forma equity value, and $97 million cash to the balance sheet, implying a 7.5x EV/2027E revenue multiple.
Analysis · APUR · Real Estate & Construction
A definitive business combination agreement has been signed between Aperture AC, a SPAC with a $102.6 million trust account, and Atlantic HPC Group, a bitcoin mining and AI infrastructure company. The deal values Atlantic at $150 million pre-money, with Atlantic stockholders rolling 100% of their equity and receiving 15 million shares at $10.00 each. Up to 6 million additional earnout shares are contingent on operational and stock price milestones. The combined company is expected to trade as AHPC on Nasdaq with a pro forma enterprise value of $227 million. This is a transformative event for Aperture, which has been operating under a going-concern warning and needed a viable business combination target. The transaction provides Atlantic with up to $97 million in cash to fund its AI/HPC expansion, but completion is subject to shareholder approval, regulatory clearance, and redemption levels that could materially reduce available capital.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 42.5% of the 522 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, APUR was trading at $10.02 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $147.6M. The 52-week trading range was $9.88 to $10.02. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.