Newborn Acquisition Corp.

Newborn Acquisition Corp. (NASDAQ: NBAC) is a blank cheque company focused on forming a merger or business comnination with other business.

Key Highlights:

• On March 22, 2021, the company stated the completion of its previously announced "Business Combination" with Nuvve Corporation. The latter is involved in accelerating the electrification of transportation via its proprietary vehicle-to-grid technology.
• As on March 17, 2021, the "Business Combination" was approved by shareholders’ of Newborn. Nuvve received ~$62 million in cash proceeds from the "Business Combination" and expects to utilize the funds to develop its offerings by merging its turnkey V2G solutions with finance packages to customers.
• The combined company has changed its name to Nuvve Holding Corp., and its common stock and warrants begin trading on the Nasdaq Capital Market under the new symbols “NVVE" and "NVVEW," respectively, from March 23, 2021.

Conclusion:

Since the stock of NBAC got merged with Nuvve Holding Corp. and started trading on NASDAQ with a new symbol “NNVE” and NBAC is no longer trading on the exchange. Therefore, the position on 'NBAC' is closed at USD 15.52 per share while 'NBACU' traded at USD 18.80 (Stock + Warrant) as on the last trading day (March 22, 2021) as per the secondary sources.

Apex Technology Acquisition Corporation

Apex Technology Acquisition Corporation (NASDAQ: APXT) is a blank cheque company which was formed for the purpose of merger and acquisition with one or more business.

Key Highlights:

• On July 01, 2021, the Apex Technology Acquisition Corporation announced the acquisition of Avepoint, Inc, the largest Microsoft 365 data management solutions provider.
• With the above collaboration, AvePoint received ~USD 492 million in gross proceeds including Apex's USD 352 million of cash and USD 140 million from an ordinary share private investment in public equity (PIPE). 
• The above entity started trading on the Nasdaq stock exchange with the ticker symbol of ‘AVPT’.
• Earlier, the APXT raised USD 350 million from its Initial Public Offerings (IPO).

Conclusion:

With the above acquisition, the entity would provide data management solutions to its clients, which would cater to the diverse, complex transformation, governance, and compliance need through the Microsoft cloud. Notably, AvePoint has collaborated with Microsoft and has a client base of more than seven million. Since APXT merged with AvePoint and is no longer trading on NASDAQ, therefore, the position on 'APXT' is closed at USD 12.11 per share while 'APXTU' traded at USD 13.61 (Stock + Warrant) as on the last trading day (July 1, 2021) as per the secondary sources.

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