APEX Tech Acquisition said on 21 October 2026 that it had agreed to combine with Korai Flix, a South Korean AI-driven interactive entertainment platform, in a deal giving Korai a pre-money equity value of US$3.5bn.
Deal terms and financing
APEX will re-domicile from the Cayman Islands to Delaware and change its name to Krflix Group Inc., and a merger subsidiary will merge into Korai. Korai's Class B shares will carry 20 votes each. There is no minimum cash condition, and both boards approved the deal unanimously.
Regulatory approvals and timing
Completion requires approval by both companies' shareholders and regulatory approvals, and is expected in the first quarter of 2027, with the combined company listed on the NYSE.
Market context
Korai offers short dramas and AI companion avatars and has about 26m registered users across 15 Asian markets.
