Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 28

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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) is classified as a liability instrument and is measured at
fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within
the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control)
is classified as temporary equity. At all other times, ordinary shares are classified as shareholder’s equity. The Company’s
ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the
occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as
temporary equity, outside of the shareholder’s equity section of the Company’s balance sheet.

NOTE 3. INITIAL PUBLIC OFFERING

On December 9, 2021,
the Company sold 17,250,000 Units at $10.00 per Unit, generating gross proceeds of $172.5 million, and incurring offering costs of
to $10,321,097, consisting of $3,450,000 of underwriting fees, $6,037,500 of deferred underwriting fees and $833,897 of other offering
costs.

Each Unit consists of
one share of the Company’s Class A ordinary shares, par value $0.0001 per share, and one-half of one redeemable warrant (“Public
Warrant”). Each whole Public Warrant will entitle the holder to purchase one share of Class A ordinary shares at an exercise
price of $11.50 per whole share (Note 8).

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the
closing of the Initial Public Offering, the Sponsor has purchased 8,950,000 Private Placement Warrants at a price of $1.00 per warrant,
generating total proceeds of $8,950,000 to the Company.

Each Private Placement
Warrant is identical to the warrants offered in the Initial Public Offering, except there will be no redemption rights or liquidating
distributions from the trust account with respect to Private Placement Warrants when the price per share of Class A ordinary shares
equals or exceeds $18.00, which will expire worthless if the Company does not consummate a Business Combination within the Combination
Period.

On September 8,
2023, as part of the Purchase Agreement between the Company’s Sponsor, APx Cap Sponsor Group I, LLC (the “Sponsor”)
transferred to Templar, LLC and its designees (the “P