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Apax Global Alpha's indirect investment in Global-e worth €17.4m following IPO
StockMarketWire.com
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Private equity fund Apax Global Alpha said Global-e, a provider of cross-border e-commerce solutions, had made its public market debut on the Nasdaq Global Select Market on 12 May 2021.
The closing price per share of common stock on 12 May was $25.5. At the closing Price, and based on closing exchange rates, Apax Global Alpha's look through position in Global-e was valued at about €17.4 million.
'This represents an uplift of 234% or c.€12.2m to Global-e's fair value at 31 March 20212 and an uplift of c.0.9% of AGA's Adjusted NAV (or €0.02 per share) at 31 March 2021. The IPO was a primary offering of shares and AGA is not expected to receive proceeds,' the company said.
Apax Global Alpha is a limited partner in Apax Mid-market Israel Fund, which is an indirect shareholder in Global-e.
In a separate statement, Apax Global Alpha said it had signed a definitive agreement to acquire a majority stake in Nulo, an ultra-premium pet food company, for €10.3 million.
The transaction was expected to close in Q2 2021, subject to customary closing conditions.
Story provided by StockMarketWire.com
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