Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 210

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 210
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 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. There is no assurance that we will be able to complete an initial business combination successfully.

We must complete one or more initial business
combinations having an aggregate fair market value equal to at least 80% of the net assets held in the Trust Account (net of amounts disbursed
to management for working capital purposes) at the time of our signing a definitive agreement in connection with our initial business
combination. However, we will only complete an initial business combination if the post-transaction company owns or acquires 50% or more
of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to
be required to register as an investment company under the Investment Company Act.

If we are unable to complete an initial business
combination within the Combination Period, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as
reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal
to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less taxes
payable and up to $100,000 of interest income to pay dissolution expenses), divided by the number of then outstanding public shares, which
redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation
distributions, if any) and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining
shareholders and our board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to our obligations under
Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. There will
be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete
our initial business combination within the Combination Period.

First and Second Extension 

On February 27,