Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 376

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 376
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 tests in the US for the coming years. As MultiplAI’s test is classified as an LDT, this new regulatory environment introduced different compliance challenges and operational risks than were originally envisioned, requiring additional resources to address. In light of these factors, on August 27, 2024, Parent, MultiplAI and the MultiplAI Shareholders (with APx’s consent) terminated the MultiplAI Share Purchase Agreement. In connection with such termination, the parties entered into discussions to transition to an exclusive commercial agreement, which allow us to market and commercialize 196 MultiplAI’s tests in Latin America. This agreement would minimize risks for both entities while leveraging our respective core strengths. It also would facilitate data sharing and acquisition, allowing us to integrate MultiplAI’s products within our Heritas precision medicine business unit. On August 11, 2024, MultiplAI, the Company, and Parent entered into a term sheet for the Reseller License Agreement, pursuant to which MultiplAI granted OmnigenicsAI an exclusive license to market certain products in Latin America through December 31, 2030. Concurrently with the Restructuring, the Parent has agreed to contribute to OmnigenicsAI certain receivables owed by MultiplAI to Parent pursuant to certain loan agreements. This binding term sheet was entered into in the context of negotiations relating to the termination of the MultiplAI Share Purchase Agreement. Strategic Focus Post-Termination The termination of the SPA with MultiplAI allow us to refocus our strategic efforts on expanding our market presence in Latin America — a region with considerable growth potential. This focus ensures that we can develop and mature our products and services in an underserved market, establishing a robust entry barrier against international competitors. By concentrating capital expenditures and operational expenditures on regional growth, we aim to maximize value creation for our shareholders. AI Integration and Future Development MultiplAI’s AI technology primarily utilizes classic machine learning algorithms. However, we have adopted a broader and more ambitious strategy, focusing on the development of Generative AI foundation models. These models will be trained by omni -modaldata collected from our comprehensive services suite. The data obtained through the commercial agreement which we expect to enter into with MultiplAI will further enhance these foundation models. To support our AI strategy, we plan to build our in -houseexpertise to develop AI and genomic solutions. This self -developmentapproach involves bringing together a specialized team of AI and genomics experts, utilizing more advanced and user -friendlytechnology to enhance the