Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 349

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 349
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 election to mark marketable shares in a PFIC to market on an annual basis. PFIC shares generally are marketable if they are “regularly traded” on a national securities exchange that is registered with the SEC, such as Nasdaq. It is expected that Company Shares will be listed on Nasdaq but there can be no assurance that Company Shares will continue to be so listed or will be “regularly traded” for purposes of these rules. Pursuant to such an election, a U.S. Holder of Company Shares would include in each year as ordinary income the excess, if any, of the fair market value of such stock over its adjusted basis at the end of the taxable year. A U.S. Holder may treat as ordinary loss any excess of the adjusted basis of the Company Shares over its fair market value at the end of the year, but only to the extent of the net amount previously included in income as a result of the election in prior years. A U.S. Holder’s adjusted tax basis in the Company Shares will be increased to reflect any amounts included in income, and decreased to reflect any amounts deducted, as a result of a mark -to -marketelection. Any gain recognized on a disposition of Company Shares in a taxable year in which the Company is a PFIC will be treated as ordinary income and any loss will be treated as ordinary loss (but only to the extent of the net amount of income previously included as a result of a mark -to -marketelection, and any loss in excess of such prior inclusions generally would be treated as a capital loss). A mark -to -marketelection applies for the taxable year in which the election was made, and for each subsequent taxable year, unless the PFIC shares cease to be marketable or the IRS consents to the revocation of the election. U.S. Holders should also be aware that the Code and the Treasury Regulations do not allow a mark -to -marketelection with respect to stock of lower -tierPFICs that is non -marketable. There is also no provision in the Code, Treasury Regulations or other published authority that specifically provides that a mark -to -marketelection with respect to the stock of a publicly traded holding company (such as the Company) effectively exempts stock of any lower -tierPFICs from the negative tax consequences arising from the general PFIC rules. U.S. Holders are advised to consult their own tax advisor to determine whether the mark -to -markettax election is available