Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1454

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 1454
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 September
of 2023, in connection with the shareholders’ vote at the Extraordinary General Meeting, the holders of 757,463 public shares properly
exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.92
per share, for an aggregate redemption amount of approximately $8,273,281. Following such redemptions 5,799,120 public shares remained
issued and outstanding. The remaining amount in the Trust Account will be distributed either to: (i) all of the holders of shares of Class
A ordinary shares issued as part of the units sold in the Initial Public Offering (the “Public Shares”) upon the Company’s
liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with the consummation of a Business
Combination. 

In connection
with the December 2023 EGM, the holders of 201,496 public shares properly exercised their right to redeem their shares (and did not withdraw
their redemption) for an aggregate redemption amount of $2,246,585. Following such redemptions, $62,410,856 remained in the trust account
and 5,597,624 public shares remained issued and outstanding. Such remaining amount in the trust account will be distributed either to
(i) all holders of public shares upon our liquidation or (ii) holders of public shares who elect to have their shares redeemed in connection
with the consummation of our initial business combination. 

In connection
with the shareholders’ vote at the December 2024 EGM of shareholders held by the Company on December 4, 2024, 5,077,568 Public Shares
were tendered for redemption, leaving 520,056 Public Shares subject to redemption. As a result, $60,856,059.42 (approximately $11.99 per
share) will be removed from the Trust Account to pay such holders, without taking into account additional allocation of payments to cover
any tax obligation of the Company since that date. After the redemptions, $6,233,015.29 will remain in the Trust Account.

At December
31, 2024 and 2023, the Class A ordinary shares subject to possible redemption reflected in the balance sheet is reconciled in the following
table: 

    Class A ordinary shares subject to possible redemption at December 31, 2022 
    $178,530,