Galaxy Universal LLC entered into a merger agreement to acquire Apex Global Brands Inc. (OTCPK:APEX) for $1.1 million on February 16, 2021. Galaxy Universal LLC will acquire all of the outstanding shares of Apex for $2.00 per share in cash. Upon completion of the merger, Apex will become wholly owned by Galaxy Universal LLC. The merger agreement contains certain termination rights in favor of each of Apex Global Brands and Galaxy Universal, including under certain circumstances, the requirement for Apex Global Brands to pay to Galaxy Universal a termination fee of $3.29 million. The proposed transaction is subject to the approval by Apex stockholders, number of dissenting shares shall not exceed 10% of the issued and outstanding shares of Apex's common stock, resignation by all the officers and directors as per the request of Galaxy along with the satisfaction of other customary closing conditions. The agreement has been unanimously approved by the members of the Apex Board of Directors. Scott M. Stanton of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is serving as legal advisor and Houlihan Lokey is serving as financial advisor to Apex Global Brands Inc., while Gregory B. Astrachan, Jonathan S. Kubek, Michael Brandt, David Tarr, Jordan Messinger and Spencer Simon of Willkie Farr & Gallagher LLP is serving as legal advisor to Galaxy Universal LLC. Houlihan Lokey, Inc. also acted as financial opinion provider to the board of directors of Apex Global. Okapi Partners LLC acted as information agent to Apex an will receive a fee of $15,750 for its services. Houlihan Lokey, Inc. (NYSE:HLI) will receive a fee of $1.1 million of which $0.4 million will become payable upon the delivery of its opinion. Computershare Trust Company acted as transfer agent to Apex Global. Galaxy Universal LLC completed the acquisition of Apex Global Brands Inc. (OTCPK:APEX) on April 1, 2021. Galaxy Universal funded the consideration and certain related fees and expenses through approximately $39.6 million of debt and approximately $29.5 million of equity commitments. Following the closing of the transaction, each director of Apex resigned from and ceased serving as a director of the Board of Directors of the Apex and any and all committees thereof, and as an officer of the Apex, respectively. As of March 31, 2021, Apex Global shareholders approved the transaction.