Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 440

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 440
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 all accrued interest and all other sums payable with regard to the note becoming immediately due and payable. As of June 30, 2024, no amounts had been drawn under the this promissory note. Administrative Support Agreement Commencing on the date of the prospectus and until completion of the Company’s initial business combination or liquidation, the Company may reimburse an affiliate of the Sponsor up to an amount of $10,000 per month for office space and secretarial and administrative support provided to members of the Company’s management team. The Company considered this agreement under the guidance of ASC 842, Leases, and determined that this agreement did not meet the definition of a lease. In connection with the Sponsor Alliance Transaction, the Company and the Initial Sponsor terminated the administrative services agreement as of the end of the September 2023, and the Company ceased paying these monthly fees. Amended and Restated Limited Liability Company Agreement On March 25, 2024, the Sponsor and Theo entered into an amended and restated limited liability company agreement (the “Amended and Restated LLC Agreement”) of Templar Subco, which supersedes the initial agreement dated March 15, 2024. In addition to the provisions relating to the operational framework of Templar Subco, the Amended and Restated LLC Agreement provides for capital contributions made by the Sponsor and Theo, the latter in exchange for services under the Backstop Agreement relating to the Business Combination. Further, pursuant to the Amended and Restated LLC Agreement, Templar Subco will distribute funds to its members following certain liquidity events, including the transfer or sale of Company Shares. In respect of the distributions under the Amended and Restated LLC Agreement, all distributions shall be directed at the Sponsor until the contribution made by the Sponsor to Templar Subco is fully returned. Upon the closing of transactions under the Business Combination, distributions are made to Theo in the amount of up to $2,100,000 or relating to the sale of up to 210,000 Company Shares. The Amended and Restated LLC Agreement also provides for distributions to Theo of up to 50% of the Backstop Amount, capped at $5,000,000, in the event that Theo funds its Backstop Commitment. Any remaining funds are then distributed to the Sponsor. As of the date of the Amended and Restated LLC Agreement, the Sponsor and Theo are the sole members of Templar Subco. 236

Management of the Company After the Business Combination References in this section