Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 152

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 152
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 be able to accurately or timely report our financial condition or results of operations, which may adversely affect our business and the price of our ordinary shares.” Following the closing of the Business Combination, we will be a “controlled company” as defined in the Nasdaq rules and, as a result, qualify for exemptions from certain corporate governance requirements. Following the closing of the Business Combination, the Parent will control, directly or indirectly, a majority of the voting power of our outstanding ordinary shares. Under Nasdaq rules, a listed company of which more than 50.0% of the voting power for the appointment of directors is held by any person or group of persons acting together is a “controlled company” and may elect not to comply with certain Nasdaq corporate governance requirements, including the requirement (i) that a majority of the board of directors consist of independent directors, as defined under the Nasdaq rules and (ii) to have a compensation committee and a nominating and governance committee, although we expect to establish a compensation committee and a nominating and governance committee, the majority of which may consist of independent directors. We have decided to be treated as a “controlled company” and, even though three members of our board of directors and a majority of the members of our compensation committee and our nominating and governance committee (that we chose to establish) are expected to consist of independent directors, you may not have the same protections afforded to shareholders of companies that are subject to all of the Nasdaq corporate governance requirements. The Parent owns a significant percentage of our capital shares and are able to exert significant control over matters subject to shareholder approval. Following the closing of the transactions contemplated by the Business Combination Agreement, the Parent is expected to beneficially own approximately 75.2% of our ordinary shares, assuming no redemptions and 85.0% of our ordinary shares, assuming maximum redemptions. As a result, the Parent will have the ability to control matters submitted to our shareholders for approval, including elections of directors, amendments to our organizational documents or approval of any merger, sale of assets or other major corporate transaction. This concentration of ownership may prevent or discourage unsolicited acquisition proposals or offers to acquire our ordinary shares that some of our shareholders feel are in their best interests, as the interests of these shareholders may not coincide with the interests of our other shareholders and they may act in a manner that advances their best interests and not necessarily those of all of our shareholders. Further, this concentration of ownership could adversely affect the prevailing market price for our securities. Imp