Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 417

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 417
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 these warrants),
subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial
business combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to registration rights. No underwriting
discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Warrants was made pursuant to the
exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

A total of $175,950,000, comprised of $172,500,000
of the proceeds from the IPO (which amount includes $6,037,500 of the underwriters’ deferred discount) and $8,950,000 of the proceeds
of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account (the “Trust Account”) at Bank of America,
National Association maintained by Continental Stock Transfer & Trust Company, acting as trustee.

Except with respect to interest earned on the
remaining funds held in the Trust Account after the redemption, that may be released to the Company to pay its taxes and up to $100,000
of interest to pay dissolution expenses, the funds held in the Trust Account will not be released from the Trust Account until the earliest
of (i) the completion of our initial business combination; (ii) the redemption of our public shares if we have not completed our initial
business combination by December 9, 2025 (the “Combination Period”), or (iii) the redemption of any public shares properly
submitted in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association
(as amended, and as may be amended from time to time, the “Articles”) (A) to modify the substance or timing of our obligation
to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated
an initial business combination within the Combination Period or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial business combination activity.

1

Our management has broad discretion with respect
to the specific application of the net proceeds of the IPO, the sale of Private Placement Warrants and any future sales of additional
notes or debt securities, although substantially all of the net proceeds are intended to be applied generally toward consummating an initial
business combination.