APEX - Apex Global Brands to be acquired by Galaxy Universal in all-cash deal

Apex Global Brands ([[APEX]] -59.4%) inked a merger agreement with Galaxy Universal wherein the latter will acquire all of the outstanding shares of the former for $2.00/share in cash.The company's officers, directors and certain stockholders collectively holding ~30% of the outstanding Apex shares have entered into voting agreements voting in favor of adopting the merger agreement.On merger completion, Apex will become wholly owned by Galaxy Universal.Apex entered into a Seventh Amendment to its Financing Agreement and Forbearance Agreement with its senior secured lenders which extends the senior secured lender's forbearance through the earlier of June 30, 2021 or the termination or closure of the merger.Acquisition closing is expected in 2Q21.

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Apex Global Brands to be acquired by Galaxy Universal in all-cash deal