APEX Tech Acquisition Inc. (NYSE: TRAD) announced on October 20, 2026, that it has entered into a definitive agreement to merge with Korai Flix Inc., an interactive online entertainment platform. Under the terms of the agreement, a wholly-owned subsidiary of APEX will merge with and into Korai, with Korai continuing as the surviving corporation.
The transaction is valued at $3.5 billion on a pre-money equity basis. Upon closing, APEX will re-domicile from the Cayman Islands to Delaware and change its name to Krflix Group Inc. The combined company’s Class A common stock is expected to be listed on the New York Stock Exchange.
As of June 30, 2026, Korai reported approximately 26.0 million registered users across 15 countries in Asia, including India, Indonesia, and Japan. The platform offers AI-powered interactive content experiences, including short dramas and companion avatars.
The closing of the transaction is subject to approval by the shareholders of both APEX and Korai, as well as regulatory approval and the satisfaction of customary closing conditions. The parties expect the transaction to close in the first quarter of 2027.
