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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).