Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 33

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 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 (in the case of the Founder Shares, only after conversion to our Class A ordinary shares). The holders of
the majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such
securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements
filed subsequent to the consummation of a Business Combination and rights to require the Company to register for resale such securities
pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with the filing of any such
registration statements.

Advisory Agreement

On October 17, 2022,
the Company had entered into an engagement letter with EarlyBirdCapital, Inc. (“