JEPLAN to go public via SPAC merger to fund r-PET capacity expansion

JEPLAN, a Japanese PET chemical recycling technology company, entered a definitive business combination agreement with AP Acquisition Corp, valuing JEPLAN at $300 million. Expected proceeds of up to $180 million will be used to increase production capacity of chemically recycled PET resin.

“Expected gross transaction proceeds of up to approximately $180 million, assuming no redemptions by AP Acquisition’s public shareholders, will be used to increase JEPLAN’s production capacity of chemically recycled polyethylene terephthalate (r-PET) resin.”sec.gov

• 1 source
• sec.govJun 16, 2023

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