Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 154

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 2
Chunk 154
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 cease
and terminate, subject to certain exceptions. Except as set forth above, no other terms of the Business Combination have been modified,
and the Company and OmnigenicsAI intend to complete the combination of their businesses (without the acquisition of MultiplAI) as set
forth in the Business Combination Agreement.

 32

The Closing

On the Closing Date,
prior to the Merger Effective Time, pursuant to the Business Combination Agreement, OmnigenicsAI shall cause the consummation of the Restructuring,
pursuant to which all Indebtedness (subject to certain exceptions) owed by OmnigenicsAI or any Subsidiary of OmnigenicsAI to Parent or
any shareholder of Parent, shall be cancelled and extinguished. The Indebtedness described in this paragraph that is not required to be
canceled and extinguished at Closing shall have their maturity date extended to three years following the Closing Date.

On the Closing Date at
the Merger Effective Time, pursuant to the Business Combination Agreement, Merger Sub will merge with and into the Company (with the Company
being the surviving company and becoming a direct wholly-owned subsidiary of OmnigenicsAI) (the “Merger”) and, as a result
of the Merger, (a) each ordinary share of the Company (“SPAC Ordinary Share”) outstanding will be exchanged for the right
to receive one ordinary share of OmnigenicsAI, nominal value $0.0001 per share (“Company Share”), (b) all warrants to purchase
SPAC Ordinary Shares (“SPAC Warrants”) will become warrants of OmnigenicsAI (“Company Warrants”) exercisable for
Company Shares, on substantially the same terms as the SPAC Warrants and (c) OmnigenicsAI shall enter into an Assignment, Assumption
and Amendment Agreement with the Company and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent,
to amend and assume the Company’s obligations under the existing Warrant Agreement, dated December 6, 2021, to give effect
to the conversion of SPAC Warrants to Company Warrants.

Conditions to Each Party’s Obligations

The obligations of the
parties to consummate the Proposed Business Combination are subject to the satisfaction or waiver of customary closing conditions at or
prior to the Closing, including (a) approval by the Company’s shareholders; (b) effectiveness of the registration statement
on Form F-4 rel