Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 23

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 the number
of Founders Shares that ultimately vest multiplied by the grant date fair value per share (unless subsequently modified) less the amount
initially received for the purchase of the Founders Shares. As of March 31, 2025, the Company determined that a Business Combination is
not considered probable and, therefore, no share- based compensation expense has been recognized.

The fair value at the
grant date of the 40,000 Founder Shares transferred to the Company’s directors was approximately $203,000 or $5.08 per share. Upon
consummation of an initial business combination, the Company will recognize approximately $203,000 in compensation expense.

 15

Net Income Per Ordinary Share

The Company complies
with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income per share is computed
by dividing net income by the weighted-average number of ordinary shares outstanding during the periods. The Company has not considered
the effect of the warrants sold in the Initial Public Offering and the Private Placement to purchase an aggregate of 17,575,000 of the
Company’s Class A ordinary shares in the calculation of diluted income per share.

The Company has two classes
of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata
between the two classes of shares. The Company applies the two-class method in calculating earnings per share. The contractual formula
utilized to calculate the redemption amount approximates fair value. The Class feature to redeem at fair value means that there is
effectively only one class of stock. Changes in fair value are not considered a dividend for the purposes of the numerator in the earnings
per share calculation. Net income per ordinary share is computed by dividing the pro rata net income between the redeemable shares and
the non-redeemable shares by the weighted average number of ordinary shares outstanding for each of the periods. The calculation of diluted
income per ordinary stock does not consider the effect of the warrants issued in connection with the Initial Public Offering since the
exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive.

The following table reflects
the calculation of basic and diluted net loss per ordinary share (in dollars, except share amounts) for the three months ended March 31,
2025 and March 31,2024:

    For the Three Months Ended March 31,