Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 2279

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 14
Chunk 2279
---
 ordinary shares included in the Units sold, the “Public Shares”), at $10.00 per
Unit, generating gross proceeds of $172,500,000, which is described in Note 3. 

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the private placement (“Private Placement”) of 8,950,000 warrants (each, a “Private
Placement Warrant” and collectively, the “Private Placement Warrants”) to the Sponsor, each exercisable to purchase
one Class A ordinary share at $11.50 per share, at a price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company
of $8,950,000 (Note 4). 

Transaction costs amounted to $10,321,097, consisting
of $3,450,000 of underwriting fees, $6,037,500 of deferred underwriting fees and $833,597 of other offering costs. In addition, at December
9, 2021, cash of $1,295,936 was held outside of the Trust Account (as defined below) and is available for working capital purposes. 

On October 17, 2022, the Company entered into
an engagement letter with EarlyBirdCapital, Inc. (“EBC”) for the provision of M&A advisory services (the “Advisory
Agreement”) and an engagement letter with EBC for placement agency services (the “Placement Agency Agreement”). Pursuant
to the Advisory Agreement, the Company would pay to EBC a fee of $2,000,000 in cash upon the closing of a business combination or similar
transaction (the “Transaction Fee”). Pursuant to the Placement Agency Agreement, the Company would pay to EBC upon the closing
of a business combination or similar transaction a cash placement fee (the “Placement Agent Fee”) equal to (a) 4.5% of the
aggregate equity amount funded by investors contacted by EBC in connection with the placement, and (b) 2.5% of the aggregate debt financing
amount, including secured and convertible debt, funded by investors contacted by EBC in connection with the placement. On August 22,
2023, the Company and EBC entered into a letter agreement (the “Letter Amendment”) which terminated the Placement Agency
Agreement (including, for the avoidance of doubt, the Placement Agent Fee) and amended the Advisory Agreement. Pursuant to the Letter
Amendment, the Advisory