- AP Acquisition Corp (NYSE:APCA) ("AP Acquisition"), a special purpose acquisition company, announced today it has entered into a definitive business combination agreement with JEPLAN, Inc. and its affiliates ("JEPLAN" or the "Company"), a global leader in chemically recycled PET technology, pursuant to which JEPLAN intends to become a U.S. publicly listed company. The combined company will focus on accelerating the global expansion of JEPLAN's pioneering and proven PET chemical recycling technology along with its production of recycled PET resin and technology license business. Upon closing of the transaction, the combined company will be named "JEPLAN Holdings, Inc." and expects to list its common shares in the form of ADSs and warrants to purchase common shares in the form of ADSs on the NYSE under the ticker symbols "JPL" and "JPL WS," respectively.
The transaction values the combined company at an estimated equity value of $480 million on a post-money basis (assuming no redemptions by AP Acquisition's public shareholders).