Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 106

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 March 31, 2025 is presented as Convertible note payable, with the remaining non-convertible portion of the note balance
shown under Notes payable.

On August 26, 2024,
the Company issued an unsecured promissory note (the “Bioceres Note”) in the principal amount of $446,000 to Bioceres LLC
(“Bioceres”), an indirect shareholder of OmnigenicsAI Corp, the counterparty to the Company’s previously announced business
combination. The Bioceres Note bears interest at 20% per annum. The Company shall repay all interest accrued and the principal balance
on the date on which the Company consummates its initial business combination. The Bioceres Note is subject to customary events of default,
the occurrence of certain of which automatically triggers the unpaid principal balance of the Bioceres Note as well as all accrued interest
and all other sums payable with regard to the Note becoming immediately due and payable. As of March 31, 2025, the principal balance outstanding
is $446,000 and is shown under Notes payable.

 22

On November 7, 2024,
the Company issued the unsecured Second Bioceres Note in the principal amount of $700,000 to Bioceres. The Second Bioceres Note bears
interest at 20% per annum. The Company shall repay all interested accrued and the principal balance on the date on which the Company consummates
its initial business combination. The note is subject to customary events of default, the occurrence of certain of which automatically
triggers the unpaid principal balance of the note as well as all accrued interest and all other sums payable with regard to the note becoming
immediately due and payable. The note was amended and restated as of March 21, 2025, to include a principal amount of up to $712,038.
As of March 31, 2025, the principal balance outstanding is $712,037 and is presented as Notes payable.

NOTE 7. COMMITMENTS AND CONTINGENCIES

Registration Rights

The holders of the Founder
Shares, Private Placement Warrants and any warrants that may be issued upon conversion of the Working Capital Loans and the Promissory
Notes (and in each case holders of their component securities, as applicable) will be entitled to registration rights pursuant to a registration
rights agreement to be signed prior to or on the effective date of the Initial Public Offering, requiring the Company to register such
securities for resale