US clearing FinTech Apex Clearing is set to go public via a special purpose acquisition company.
In Brief:
Apex Clearing offers technology to enable instant account opening, trade execution and settlement.
It will list on the New York Stock Exchange through Northern Star Investment Corp II.
The transaction is set to be valued at $4.7bn.
What does this mean?
With over 200 clients, Apex reported revenues of approximately $236mn at the end of 2020. In the listing, it expects to gain $850mn in new funds.
