Kirkland Represents AP Acquisition on Business Combination with JEPLAN, Inc.

Kirkland & Ellis advised AP Acquisition Corp (NYSE: APCA), a special purpose acquisition company, on its business combination with JEPLAN, Inc., a global leader in chemically recycled PET technology. The transaction values the combined company at an estimated equity value of approximately $480 million on a post-money basis, including up to approximately $180 million (gross) of cash held in AP Acquisition’s trust account and assuming no redemptions by AP Acquisition’s public shareholders. Upon completion of the transaction, the combined company, which will be domiciled and headquartered in Japan, will be named “JEPLAN Holdings, Inc.” and expects to list its common shares in the form of ADSs and warrants to purchase common shares in the form of ADSs on the NYSE under the ticker symbols “JPL” and “JPL WS,” respectively. The transaction is subject to customary closing conditions and is expected to close in the third or fourth quarter of 2023.

Read AP Acquisition’s press release

The Kirkland team was led by corporate partners Jesse Sheley, Steve Lin and Joseph Raymond Casey.