Korai Flix agrees $3.5bn SPAC merger with APEX Tech Acquisition
The Seoul-based AI entertainment platform, which offers AI short dramas and AI companion avatars, would list on the NYSE as Krflix Group. Closing is targeted for the first quarter of 2027.
What this basis means: Disclosed by the company about itself, and not independently confirmed.
Korai Flix Inc., an AI-driven interactive entertainment platform based in Seoul, and APEX Tech Acquisition Inc. (NYSE: TRAD), a blank-check company in Houston, announced on 21 October 2026 that they signed a definitive merger agreement on 20 October.
The transaction values Korai at $3.5bn on a pre-money equity basis and has no minimum cash condition. The combined company would be renamed Krflix Group Inc. and seek an NYSE listing. Closing is expected in the first quarter of 2027, subject to approval by APEX and Korai shareholders and by regulators.
Korai launched in June 2024. It offers AI-generated short dramas and AI companion avatars, along with AI content-creation tools. The companies said Korai had about 26.0 million registered users in 15 countries or regions in Asia on 30 June 2026. The announcement disclosed no revenue or other financial results. All operating figures are the companies' own.
Companies Korai Flix, APEX Tech Acquisition
Sources
- Form 8-K, Exhibit 99.1: Korai Flix and APEX Tech Acquisition agree to merge (opens in a new tab) U.S. Securities and Exchange Commission