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

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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daq
filed a Form 25-NSE in respect of APx’s Class A ordinary shares with the SEC, and the delisting of APx’s Class A ordinary
shares became effective on March 31, 2025. On May 8, 2025, Nasdaq filed a Form 25-NSE in respect of APx’s units and warrants with
the SEC, and the delisting of APx’s units and warrants will become effective on May 18, 2025. Following the delisting on Nasdaq,
APx’s Class A ordinary shares are quoted on the Pink Open Market of the OTC under the symbol “APXIF”. We will remain
a reporting entity under the Securities Exchange Act of 1934, as amended, with respect to continued disclosure of financial and operational
information.

Despite the delisting
of our securities from Nasdaq, the Company intends to proceed with its efforts to consummate our initial Business Combination. However,
Nasdaq approval of OmnigenicsAI’s initial listing application with respect to the Business Combination is a condition to such Business
Combination, and there can be no guarantee that Nasdaq will approve such initial listing application, which may delay, or ultimately prevent
the consummation of the proposed Business Combination.

Following the suspension
of trading on Nasdaq, the Company’s Class A ordinary shares are quoted on the Pink Open Market of the OTC under the symbol “APXIF”.

The Company will remain
a reporting entity under the Securities Exchange Act of 1934, as amended, with respect to continued disclosure of financial and operational
information.

 8

First, Second and Third Extensions

On February 27, 2023,
the Company held an extraordinary general meeting (the “February 2023 EGM”) and its shareholders approved an amendment to
its amended and restated memorandum and articles of association (as amended, the “Articles of Association”) and to the investment
management trust agreement dated as of September 7, 2021 (as amended, the “Trust Agreement”) to change the payment required
to extend the Combination Period by two three-month periods (the “February Extension Amendment Amendment”). In connection
with such vote, the holders of 10,693,417 public shares properly exercised their right to redeem their shares (and did not withdraw their
redemption) for an aggregate redemption amount of $111,346,281. Following such redemptions, approximately $68,271,081 remained in the