TECfusions, a global data center developer and operator, has agreed to merge with special purpose acquisition company Apex Treasury Corp, in a deal that would take the AI infrastructure company public on Nasdaq under the proposed ticker symbol “TECF.” The company’s development pipeline could eventually support multiple gigawatts of capacity.
Its strategy focuses on converting legacy industrial properties into data centers rather than building entirely new facilities, with the aim of accelerating deployment and reducing development costs and permitting complexity according to a press release.
Simon Tusha, Founder, TECfusions, said,“As demand for AI and high-performance compute continues to grow, customers increasingly need scalable, resilient data center capacity on timelines that traditional development models often cannot match. As a public company, we anticipate access to the public capital markets will enhance our ability to accelerate development across our existing portfolio, expand into additional strategic markets, and continue building a leading infrastructure platform for the global AI economy in partnership with the communities.”
Ajmal Rahman, Chairman and Co-CEO, Apex Treasury, said, “We have been deeply impressed by both the ambition of the TECfusions strategy and the progress the leadership team has already made in bringing that strategy to life. The Company has built a platform that speaks directly to where the market is today, with a focus on power access, accelerated deployment, and AI-ready infrastructure.”
Revere Securities LLC served as financial adviser to TECfusions and as placement agent for the PIPE (Private Investment in Public Equity) financing in connection with the transaction. Paul Hastings LLP acted as legal counsel to TECfusions, while Sidley Austin LLP acted as legal counsel to Apex Treasury Corp. Alliance Advisors Investor Relations provided investor and media relations advisory services for the transaction which is subject to customary closing conditions and regulatory approvals.