Apex Tech Acquisition agrees to merge with Korai Flix
TRAD•Apex Tech Acquisition agreed to merge with Korai Flix in a deal valuing the South Korean AI entertainment platform at $3.5 billion pre-money, with no minimum cash condition. The combined company will be renamed Krflix Group, and the transaction is expected to close in the first quarter of 2027.
1. Deal terms
Apex Tech Acquisition agreed on October 20, 2026, to merge with Korai Flix. The transaction values Korai at $3.5 billion on a pre-money equity basis and has no minimum cash condition.
2. Closing and listing
The combined company will be renamed Krflix Group, with its Class A common stock expected to list on the NYSE. Closing is expected in the first quarter of 2027, subject to shareholder approvals from both companies, regulatory approval and other customary conditions. Korai had approximately 26 million registered users across 15 Asian countries or regions as of June 30, 2026.
