APEX COMPLETES SECOND PRIVATE PLACEMENT; RAISES $60M
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).