LEX Joins Forces with Apex Clearing to Unlock Access to New Real Estate Markets for Retail Investors
NEW YORK–(BUSINESS WIRE) – LEX, a commercial real estate securities marketplace for retail investors, and Apex Clearing, the business-to-business custody and clearing platform for innovation in fintech, investment and asset management, recently completed the IPO of a commercial building on LEX’s dedicated securities market; successfully put a $ 24 million building on the stock exchange (now under ticker: GWYGU).
This strategic partnership has enabled the public trading of real estate values for individual assets – a key moment for LEX as the company continues to redefine real estate as an asset class by lowering the barriers to entry for all investors. In addition, the real estate IPO process jointly created by LEX and Apex expands access beyond the traditional pool of institutional investors and offers all US investors, including non-accredited investors, a simplified alternative to public REITs.
“Apex Clearing has been a technologically advanced, flexible and reliable partner who has worked with LEX on everything from introducing this new offering to our long-term sales strategy. It was clear from the start that Apex wanted to build our business with us, and this partnership has placed us incredibly well to scale and democratize real estate investments, ”said Jesse Daugherty, Co-Founder and CTO of LEX.
Apex’s technology has caused the biggest fintech disruption in the last decade. LEX and Apex jointly built a custom IPO and secondary trading process from the ground up. The IPO model was developed with strict regulatory, reliability and safety standards and at the same time uses novel technology solutions. Working together, the teams worked to create certain characteristics necessary to bring a building to the public and enable it to trade, clear and settle, just as traditional company stocks do, in order to create a seamless customer experience.
“With the advent of retail, we are seeing a major shift in markets and LEX is paving the way for this influx of everyday investors to move into another asset class that was previously largely unavailable to them,” said Bill Capuzzi, CEO of Apex Clearing. “This is a monumental step for investing and we look forward to providing individual investors with an opportunity to access real estate assets in a way that is not unaffordable to them.”
The IPO of GWYGU heralds an exciting chapter for LEX and will soon start for all US investors. Visit lex-markets.com to be placed on the waiting list.
LEX is a venture capital backed commercial real estate marketplace. With LEX, both accredited and non-accredited investors can buy and sell shares of individual commercial properties from USD 250 without blocking. The trading platform is powered by Nasdaq and offers the same robust, low latency, high performance trading features used by over 70 global markets around the world. With LEX, property owners can unlock equity while maintaining operational control over their properties. More information is available at www.lex-markets.com.
About Apex Clearing
Apex Clearing is the fintech for fintechs who drive innovation and the future of digital wealth management. Our proprietary technology for enterprise provides speed, efficiency and flexibility for businesses ranging from innovative startups to blue-chip brands focused on transformation to attract a new generation of investors. We help our customers deliver the seamless digital experiences consumers expect today with the throughput and scalability required by fast-growing, high-volume financial services companies. Apex Clearing was founded in 2012 and is registered with the SEC, a member of FINRA and a participant in SIPC.
More information is available on the Apex Clearing website and on Instagram, LinkedIn and Twitter.
Important information and where to find it
This announcement is made in connection with the proposed merger transaction between Northern Star and Apex. On April 8, 2021, Northern Star filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4, which contains a preliminary proxy statement / prospectus from Northern Star and certain related documents which are used under are to be the shareholders’ meeting to approve the proposed business combination and related matters. Northern Star investors and security holders are asked to carefully and completely read the Proxy Statement / Prospectus and any amendments and other relevant documents filed with the SEC as they become available as they contain important information about Apex, Northern Star and the Business Combination. The final power of attorney / prospectus will be sent to Northern Star shareholders on a deadline to be determined for the vote on the proposed business combination. Investors and security holders can obtain free copies of the registration statement and other documents containing important information about individual companies on the SEC’s website at www.sec.gov.
The information contained on or accessed through the websites mentioned in this press release is not incorporated by reference in this press release and is not part of this press release.
Participant in the call
Northern Star, Apex and some of their respective directors, managers and officers may be regarded as participants in the solicitation of proxies from Northern Star’s shareholders for the benefit of the approval of the business combination and related matters. Shareholders can obtain more detailed information about the names, affiliations and interests of certain officers and directors of Northern Star in the solicitation by reading Northern Star’s definitive prospectus filed with the SEC on January 27, 2021 and the preliminary letter of attorney / prospectus and others relevant materials filed with the SEC in connection with the business combination as they become available. Information regarding the interests of the Northern Star participants in the solicitation, which in some cases may differ from those of the shareholders in general, is contained in the preliminary proxy statement / prospectus relating to the business combination and is set out in the final proxy statement / prospectus with respect to the business combination as soon as it becomes available.
No offer or solicitation
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of votes or approval, nor is any sale of securities made in any state or jurisdiction in which such offer or solicitation is made or if there is such a solicitation, the sale would be unlawful prior to registration or qualification under the securities laws of that other jurisdiction.