Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1786

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 1786
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 a price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company
of $8,950,000 (Note 4). 

Transaction costs amounted to $10,321,097, consisting
of $3,450,000 of underwriting fees, $6,037,500 of deferred underwriting fees and $833,597 of other offering costs. In addition, at December
9, 2021, cash of $1,295,936 was held outside of the Trust Account (as defined below) and is available for working capital purposes. 

On October 17, 2022, the Company entered into
an engagement letter with EarlyBirdCapital, Inc. (“EBC”) for the provision of M&A advisory services (the “Advisory
Agreement”) and an engagement letter with EBC for placement agency services (the “Placement Agency Agreement”). Pursuant
to the Advisory Agreement, the Company would pay to EBC a fee of $2,000,000 in cash upon the closing of a business combination or similar
transaction (the “Transaction Fee”). Pursuant to the Placement Agency Agreement, the Company would pay to EBC upon the closing
of a business combination or similar transaction a cash placement fee (the “Placement Agent Fee”) equal to (a) 4.5% of the
aggregate equity amount funded by investors contacted by EBC in connection with the placement, and (b) 2.5% of the aggregate debt financing
amount, including secured and convertible debt, funded by investors contacted by EBC in connection with the placement. On August 22,
2023, the Company and EBC entered into a letter agreement (the “Letter Amendment”) which terminated the Placement Agency
Agreement (including, for the avoidance of doubt, the Placement Agent Fee) and amended the Advisory Agreement. Pursuant to the Letter
Amendment, the Advisory Agreement was amended to provide that the Company, at its option, could elect to pay up to $500,000 of the Transaction
Fee in ordinary shares of the post-business combination company (in lieu of cash), with such issuance to occur on the six month anniversary
of the closing of the business combination, and valued based on the volume weighted average price of the post-business combination company’s
ordinary shares for the ten trading days immediately preceding the six month anniversary of the closing of the business combination.

On December 21, 2023, the Company received a
deficiency letter (the “