Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 119

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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 the target, or a combination of the foregoing.

The Company’s sponsor
is APx Cap Sponsor Group I, LLC (the “Sponsor”). The registration statement for the Company’s Initial Public Offering
was declared effective on December 9, 2021 (the “IPO”). On December 9, 2021, the Company consummated the IPO of
17,250,000 units (the “Units” and, with respect to the shares of Class A ordinary shares included in the Units sold,
the “Public Shares”), at a price of $10.00 per Unit, generating gross proceeds of $172,500,000, including 2,250,000 Units
issued pursuant to the exercise in full of the underwriters’ over-allotment option. Each Unit consists of one Class A ordinary
share, par value $0.0001 per share and one-half of one redeemable warrant. Each whole public warrant entitles the holder to purchase one
Class A ordinary share at a price of $11.50 per share, subject to adjustment.

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Following the closing
of the IPO, an amount of $175,950,000 from the net proceeds of the sale of the Units in the IPO and the sale of the Private Placement
Warrants was placed in a trust account (the “Trust Account”) located in the United States at Bank of America, N.A., and will
be invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of
1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company
that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of
Rule 2a-7 of the Investment Company Act, as determined by the Company.

Concurrently with the
closing of the IPO, our Sponsor purchased an aggregate of 8,950,000 private placement warrants (the “Private Placement Warrants”)
at a price of $1.00 per private placement warrants. Each warrant is exercisable to purchase one Class A ordinary share at $11.50
per share. The proceeds from the Private Placement Warrants were added to the proceeds from the IPO held in the Trust Account (as defined
below).

We paid an underwriting
discount at the