Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 186

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 186
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 that the IRS will agree, or that if it challenges such treatment, it will not succeed in such challenge. Risks Related to APx Unless the context otherwise requires, all references in this “Risks Related to APx and the Business Combination” section to “we,” “us” or “our” refer to APx. Trading in our securities is currently suspended on Nasdaq as a result of a delisting determination we received in connection with our failure to comply with certain continued listing standards by December 6, 2024, which was the deadline Nasdaq had set for us to consummate the Business Combination. In order to complete the delisting process, we expect that Nasdaq will file a Form 25-NSE with the SEC, and the delisting will become effective ten days after such Form 25-NSE is filed. Although we expect that we will be notified by Nasdaq prior to the filing of such Form 25-NSE, as well as prior to the release of a press release by Nasdaq announcing the delisting event, we are not at this time able to determine when such Form 25-NSE will be filed or when the delisting of our securities from Nasdaq will be complete. The delisting of our securities may delay, or ultimately prevent, the consummation of the Business Combination. While we continue to work towards its completion, the Business Combination was not consummated as of December 6, 2024, which, as further discussed below, was the deadline Nasdaq had provided us to consummate the Business Combination or face potential delisting from the Nasdaq exchange as a result of non -compliancewith certain of Nasdaq’s continued listing requirements. On September 4, 2024, we received written notice from the Listing Qualifications Department of Nasdaq indicating that since the aggregate market value of our outstanding warrants was less than $1 million, we were no longer in compliance with the Nasdaq continued listing criteria set forth in Listing Rule 5452(b)(C) (the “Rule”), which required us to maintain an aggregate market value of our outstanding warrants of at least $1 million (the “Notice”). We subsequently submitted a plan to regain compliance with the Rule (the “Compliance Plan”). On October 29, 2024, we received written notice from Nasdaq’s staff, stating that the Compliance Plan was not accepted as we had provided insufficient evidence to demonstrate that we could effect the Compliance Plan by its 36 -monthexpiration date of December 6,