Recent developments focus on the company’s IPO pricing, closing, and commencement of separate trading of its securities.

• On June 25, 2026, Alpex Acquisition Corporation announced the pricing of its $100 million initial public offering [N3].
• On June 26, 2026, the company announced the closing of its $115 million initial public offering, including full exercise of the over-allotment option [N2].
• On June 30, 2026, Alpex Acquisition Corporation announced the separate trading of its Class A ordinary shares, warrants, and rights commencing on July 7, 2026 [N1].

The company has successfully completed its IPO and raised significant capital, providing a foundation to pursue a business combination. The separate trading of shares, warrants, and rights enhances liquidity and investor flexibility. The strong liquidity ratios indicate a solid financial position to support initial operations and transaction costs.

The company currently operates with no revenue and reports a net loss, typical of a SPAC pre-business combination. The lack of disclosed target sectors or acquisition plans limits visibility into future business prospects. Risks inherent to SPACs include the uncertainty of completing a business combination and potential dilution from warrants and rights.

As a SPAC, Alpex Acquisition Corp’s moat is primarily its capital raised and ability to identify and complete a business combination. It does not currently operate a business or generate revenue, so its competitive advantages depend on management’s execution in sourcing and closing a suitable acquisition target.

• Business Combination Risk: The company’s success depends on identifying and completing a suitable business combination, which is uncertain and may not occur within the required timeframe.
• Financial Performance Risk: As a newly public SPAC, the company currently has no revenue and reports a net loss, with ongoing expenses expected until a business combination is completed.
• Market and Liquidity Risk: The trading price and liquidity of the company’s securities may be volatile, especially given the separate trading of shares, warrants, and rights.

• Alpex Acquisition Corp is a Cayman Islands exempted company formed as a special purpose acquisition company (SPAC).
• The company completed its initial public offering (IPO) on June 26, 2026, raising gross proceeds of $115 million including full exercise of the over-allotment option.
• Each IPO unit consists of one Class A ordinary share, one redeemable warrant exercisable at $11.50, and one right to acquire one-fourth of one Class A ordinary share upon completion of a business combination.
• The company also sold 187,500 private units to its sponsor, Hugreat Ltd, at $10.00 per unit, generating $1.875 million.
• The proceeds from the IPO and private units, net of expenses, were placed in a trust account for the benefit of public shareholders and underwriters.
• On June 30, 2026, the company announced that holders of units may elect to separately trade the Class A ordinary shares, warrants, and rights starting July 7, 2026, under the symbols ALPX, ALPXW, and ALPXR respectively, while units not separated continue trading as ALPXU.
• As of June 30, 2026, the company had cash and cash equivalents of approximately $755 thousand and current assets of about $875 thousand, with current liabilities of approximately $238 thousand, resulting in a current ratio of 3.68 and a cash ratio of 3.17.
• The company reported a net loss of $123,388 for the quarter ended June 30, 2026.
• The company is classified as an emerging growth company and is not required to include risk factors in its quarterly report but refers to risk factors disclosed in its IPO prospectus.
• No revenue or earnings per share data have been reported as of the latest filings.