Apex Files Executed Underwriting Terms for US$1.86M Nasdaq IPO of 400,000 ADSs at US$4.65

summarizeSummary

Apex filed the executed underwriting and deposit agreements for its US$1.86M Nasdaq IPO of 400,000 ADSs at US$4.65, with Maxim underwriting at US$4.3245 per ADS and a 60,000-ADS over-allotment option.

check_boxKey Events · Financing and Capital Events · APXCF

• Nasdaq IPO Terms Executed

  Underwriting Agreement dated October 22, 2026 covers 400,000 ADSs at a US$4.65 public price, each ADS representing 6 common shares (2,400,000 shares).

• Underwriting Economics and Over-Allotment

  Maxim purchases at US$4.3245 per ADS, a 7.0% gross spread, and holds an option for up to 60,000 additional ADSs exercisable within 45 days of closing.

• Representative's Warrant Granted

  Warrant for 5.0% of the Firm ADSs at a US$5.81 exercise price (125% of the public offering price), expiring four years after October 23, 2026.

• Dilution and Lock-Up

  The 2.4M shares add to 97,256,887 outstanding as of October 22, about 2.5% dilution; officers and directors are locked up for 90 days after closing.

auto_awesomeAnalysis · APXCF · Energy & Transportation

The pricing was already public this morning; what is new here is the signed paperwork behind it. Maxim buys the 400,000 ADSs at US$4.3245 each and resells at US$4.65, a 7.0% gross spread, and holds a 60,000-ADS over-allotment plus a warrant for 5% of the deal struck at US$5.81. Gross proceeds of roughly US$1.86M are small against the company's ~US$92M market value, but the listing is the point: it moves the story from a Canadian CSE quote to a Nasdaq tape under APXC. The cost side is worth noting — a 12-month tail fee of 7.0% cash plus 5% warrants and a right of first refusal on future U.S. offerings give Maxim a claim on the next raise, and officers and directors are locked up for 90 days. Each ADS equals six common shares, so the deal adds 2.4M shares to the 97.26M outstanding as of October 22, about 2.5% dilution before any over-allotment.