---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-071887"
form_type: "8-K"
ticker: null
cik: "0001862993"
company_name: "AP Acquisition Corp"
filed_at: "2023-06-16T23:59:59+00:00"
generated_at: "2026-06-13T23:17:14.796424+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# AP Acquisition Corp (APCA) enters definitive business combination with JEPLAN, Inc.

## Summary
- SPAC AP Acquisition Corp signs definitive agreement with JEPLAN, a Japanese chemical recycling company.
- Transaction values JEPLAN at $300M; exchange ratio based on $300M / fully diluted shares divided by $10.00.
- PIPE Investment at $10.00 per share to close concurrently; minimum cash condition of $30M from trust and PIPE.
- Sponsor and SPAC directors vote for deal, waive redemption, and 12-month lock-up (subject to price trigger).
- Closing subject to shareholder approvals, NYSE listing of PubCo ADSs, and other customary conditions.

## SEC filing metadata
- accession: 0001104659-23-071887
- form_type: 8-K
- cik: 0001862993
- company_name: AP Acquisition Corp
- filed_at: 2023-06-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1862993/000110465923071887/0001104659-23-071887-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1862993/000110465923071887/tm2318720d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-071887
- JSON: https://secwatch.observer/filing/0001104659-23-071887.json
- Plain text: https://secwatch.observer/filing/0001104659-23-071887.txt

## Key facts
- Debt Financings
  AP Acquisition Corp incurred loan of $1,725,000 with the Sponsor at does not bear interest maturing upon the closing of the Merger.
  - Instrument: loan
  - Principal: $1,725,000
  - Counterparty: the Sponsor
  - Rate: does not bear interest
  - Maturity: upon the closing of the Merger
  - Event: incurrence
  source text: On June 16, 2023, SPAC issued an unsecured promissory note in the aggregate principal amount of $1,725,000 (the “ Promissory Note ”) to the Sponsor and received $1,725,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1862993/000110465923071887/0001104659-23-071887-index.htm
- Material Agreements
  AP Acquisition Corp entered into Business Combination Agreement with JEPLAN Holdings, Inc., JEPLAN MS, Inc., JEPLAN, Inc. (effective 2023-06-16).
  - Action: entry
  - Agreement: merger
  - Counterparty: JEPLAN Holdings, Inc., JEPLAN MS, Inc., JEPLAN, Inc.
  - Effective: 2023-06-16
  source text: On June 16, 2023, (i) AP Acquisition Corp, an exempted company limited by shares incorporated under the laws of the Cayman Islands (“ SPAC ”), (ii) JEPLAN Holdings, Inc., a Japanese corporation ( kabushiki kaisha ) incorporated under the laws of Japan (“ PubCo ”), (iii) JEPLAN MS, Inc., an exempted company limited by shares incorporated under the laws of the Cayman Islands and a direct wholly-owned subsidiary of PubCo (“ Merger Sub ”), and (iv) JEPLAN, Inc., a Japanese corporation ( kabushiki kaisha ) incorporated under the laws of Japan (the “ Company ” or “ JEPLAN ”), entered into a Business Combination Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1862993/000110465923071887/0001104659-23-071887-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.