Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 435

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 435
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 no assurance that any design will succeed in achieving its stated goals under all potential future conditions. The Chief Executive Officer and Chief Financial Officer performed additional post -closingreview procedures including reviewing historical filings and consulting with subject matter experts related to the accounting for warrant liabilities. The Company’s management has expended, and will continue to expend, a substantial amount of effort and resources for the remediation and improvement of our internal control over financial reporting. While we have processes to properly identify and evaluate the appropriate accounting technical pronouncements and other literature for all significant or unusual transactions, we have improved, and will continue to improve, these processes to ensure that the nuances of such transactions are effectively evaluated in the context of the increasingly complex accounting standards. The elements of our remediation plan can only be accomplished over time, and we can offer no assurance that these initiatives will ultimately have the intended effects. 233 Certain APx Relationships and Related Person Transactions References in this section to “we”, “our”, “us”, the “Company” or “APx” generally refer to APx Acquisition Corp. I. Founder Shares On May 21, 2021, the Company issued an aggregate of 4,312,500 Founder Shares to the Initial Sponsor for an aggregate purchase price of $25,000. The Founder Shares include an aggregate of up to 562,500shares subject to forfeiture by the Sponsor to the extent that the underwriter’s over -allotmentis not exercised in full or in part, so that the Sponsor will collectively own, on an as -convertedbasis, 20% of the Company’s issued and outstanding shares after the IPO. As of the date hereof, all of the over -allotmentunits had been settled simultaneously with the close of the Initial Public Offering. No SPAC Class B ordinary shares were forfeited or subject to forfeiture. On September 8, 2023, as part of the Purchase Agreement between the Initial Sponsor and the Sponsor, the Initial Sponsor transferred to the Sponsor 3,342,188 Founders Shares purchased at the time of the IPO. The Sponsor retained 970,312 Founder Shares. On October 2, 2023, the Company entered into a Share Exchange Agreement with the Initial Sponsor and the Sponsor (the “Share Exchange Agreement”), pursuant to which each of the Initial Sponsor and the Sponsor exchanged (the “Share Exchange”) all Class B ordinary shares then held (totaling an aggregate of 4,312,500shares) into Class A ordinary shares. The Company issued 4,312