Sunoco Debuts "Essence Of Racing" Campaign Executive Transactions Isiah Thomas Expected Backlash Over Hiring FanDuel Brings On Most Of Zynga Sports Team Georgia Approves Increased Athletic Budget Kentucky Adding Ribbon Boards At Rupp IndyCar Ponders How To Attract Fans Long Term Jeff Gordon Hired As Full-Time Analyst For Fox Danica's Sponsorship Status To Be Telling For NASCAR Classified Advertisements
Upcoming Conferences and Events
SBD/21/Sponsorships Advertising Marketing
APEX COMPLETES SECOND PRIVATE PLACEMENT; RAISES $60M
Published October 21, 1994
Apex CEO/President Joseph Kirchner announced today that the company completed its second private placement in the past year. In exchange for a minority interest in the company, Apex has raised $60M of capital which provides for major growth opportunities for the company. In addition to the $60M in capital, Apex also has bank lines of around $50M. The $60M in new capital allows the company to fund its sales growth, expand its production in Hong Kong, build its international business and increase its involvement in strategic promotional ventures. Kirchner: "For Apex to continue competing in the highly- competitive arena of professional and college athletics -- as well as fulfilling retail demand of its product -- an additional infusion of capital was needed" (APEX).