Aperture AC to Merge with Atlantic HPC in $150 Million Stock Deal

Aperture AC (Nasdaq: APUR), a Cayman Islands blank check company, has agreed to merge with Atlantic HPC Group Inc, a Delaware-based bitcoin miner. The deal, announced in an 8-K filing on September 16, 2026, is valued at $150 million.

The merger will convert Aperture into an operating business focused on AI/HPC and digital infrastructure assets. To achieve this, Aperture will re-domicile from the Cayman Islands to Delaware and merge with AP Ocean Merger Sub, Inc., with Atlantic surviving as a wholly owned subsidiary of Aperture.

Under the terms of the deal, Atlantic stockholders will receive $150 million in Aperture common stock at a price of $10.00 per share, implying around 15 million shares issued to them. There is also an earnout provision for up to 6 million additional shares tied to milestones over a five-year period.

However, the deal comes with significant risks, including a limited cash position and potential Nasdaq listing issues if public shareholders heavily redeem their shares.