Apex Treasury Corporation is a special purpose acquisition company (SPAC) — a shell company with no operations whose sole purpose is to acquire a private company and take it public through a Business Combination. Apex raised $172.5M in its IPO in December 2025 by selling units at $10.00 each, with proceeds held in a Trust Account invested in U.S. Treasuries or money market funds until a deal is completed. Apex has 24 months from its IPO to complete a Business Combination, or it must return Trust Account funds to public shareholders. The Sponsor, Bluerock Acquisition Holdings, received 5.75M Class B Founder Shares for a nominal $25,000 — roughly 25% of post-IPO shares — which are worthless if no deal closes. Apex has not identified a specific acquisition target and can pursue any industry, though it prefers targets with recurring revenues, high customer retention, above-average growth prospects, healthy margins or a clear path to profitability, and conservative leverage. Apex's management, drawing on Bluerock's roughly three decades of institutional investing and real estate experience, argues it can source deals through its network of investment banks, private equity sponsors, and institutional investors, and add post-merger value through strategic planning and public company readiness support.