Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 276

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 276
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 a claim in a judicial forum that it finds favorable for disputes with our company, which may discourage
such lawsuits. Alternatively, if a court were to find this provision of our warrant agreement inapplicable or unenforceable with respect
to one or more of the specified types of actions or proceedings, we may incur additional costs associated with resolving such matters
in other jurisdictions, which could materially and adversely affect our business, financial condition and results of operations and result
in a diversion of the time and resources of our management and board of directors.

33

If we are deemed to be an investment company for purposes of
the Investment Company Act of 1940, as amended (the “Investment Company Act”), we would be required to institute burdensome
compliance requirements and our activities would be severely restricted and, as a result, we may abandon our efforts to consummate an
initial business combination and liquidate. 

There is currently uncertainty concerning the
applicability of the Investment Company Act to a SPAC. It is possible that a claim could be made that we have been operating as an unregistered
investment company. This risk may be increased if we continue to hold the funds in the Trust Account in short-term U.S. government treasury
obligations or in money market funds invested exclusively in such securities, rather than instructing the trustee to liquidate the securities
in the Trust Account and hold the funds in the Trust Account in cash.

If we are deemed to be an investment company
under the Investment Company Act, our activities would be severely restricted. In addition, we would be subject to burdensome compliance
requirements. We do not believe that our principal activities will subject us to regulation as an investment company under the Investment
Company Act. However, if we are deemed to be an investment company and subject to compliance with and regulation under the Investment
Company Act, we would be subject to additional regulatory burdens and expenses for which we have not allotted funds. As a result, unless
we are able to modify our activities so that we would not be deemed an investment company, we would expect to abandon our efforts to
complete an initial business combination and instead to liquidate. If we are required to liquidate, our shareholders would not be able
to realize the benefits of owning stock in a successor operating business, including the potential appreciation in the value of our stock
and warrants following such a transaction, and our warrants would expire worthless.

If we instruct the trustee to liquidate the securities held
in the Trust Account