Company: APXIF
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065703
Chunk: 205

Company: APx Acquisition Corp. I
Filing Date: 2025-07-18
Form: F-4/A
Chunk 205
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closingcompany, funds held outside of the Trust Account, or from any available cash on the post -closingcompany’s balance sheet. In the event that a business combination does not close, APx may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay such amounts as the Amended and Restated Note contains an express waiver against any and all rights to seek access to funds in the Trust Account. If APx were to liquidate, it may be unable to repay and or all amounts due under the Working Capital Promissory Loans and the Sponsor may be required to forgive any such outstanding balance thereunder. As of March31, 2025, there was $1,743,499 outstanding under the Amended and Restated Note. If APx is required to seek additional capital, APx would need to borrow funds from the Initial Shareholders or other third parties to operate or may be forced to liquidate. Neither the Initial Shareholders nor any of their affiliates is under any obligation to advance funds to APx in such circumstances. Any such advances would be repaid only from funds held outside the Trust Account or from funds released to APx upon completion of APx’s initial business combination. Prior to the completion of the Business Combination, APx does not expect to seek loans from parties other than the Sponsor as APx does not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in the Trust Account. If APx is unable to complete the Business Combination because it does not have sufficient funds available, APx will be forced to cease operations and liquidate the Trust Account. Consequently, the Public Shareholders may only receive an estimated $11.99 per share, following the December 2024 EGM, on APx’s redemption of its Public Shares, and the APx Warrants will expire worthless. During the pendency of the Business Combination, APx will not be able to enter into a business combination with another party because of restrictions in the Business Combination Agreement. Furthermore, certain provisions of the Business Combination Agreement will discourage third parties from submitting alternative takeover proposals, including proposals that may be superior to the arrangements contemplated by the Business Combination Agreement. Covenants in the Business Combination Agreement impede the ability of APx to make acquisitions or complete other transactions that are not in the ordinary course of business pending completion of the Business Combination. As a result, APx may be at