Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 113

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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 offer and sale of
the Exchange Shares has not been registered under the Securities Act or any state securities laws and the Exchange Shares are not offered
or sold in the United States absent registration under the Securities Act or an applicable exemption from registration requirements. Nothing
contained in this Quarterly Report on Form 10-Q constitutes an offer to sell, or the solicitation of an offer to buy, any securities and
shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

In the Share Exchange
Agreement, each of the Purchaser and the Sponsor represented to the Company that it is an “accredited investor”, as defined
in Rule 501 promulgated under the Securities Act, and the Company’s offer and sale of the Exchange Shares have been made in reliance
upon the exemption from the registration requirements of the Securities Act.

The Company may issue
additional ordinary shares or preferred share to complete its Business Combination or under an employee incentive plan after completion
of its Business Combination.

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NOTE 10. CLASS A ORDINARY SHARES SUBJECT
TO POSSIBLE REDEMPTION

The Company accounts
for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification
(“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory
redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including
ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence
of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares
are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that
are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, Class A
ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’
equity section of the Company’s balance sheet.

The Company recognizes
changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption
value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by
charges against additional paid in capital and accumulated deficit.

At March 31, 2025 and
December 31, 2024, the