Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 82

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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’s
Listing Rule 5452(b)(C). The Warrant Letter further stated that the Company has until October 21, 2024, to submit a plan to regain compliance
with respect to such deficiency.

 7

On October 29, 2024, the
Company received written notice from the Staff (the “November Notice”), stating that the Compliance Plan the Company submitted
in response to the September 4, 2024 deficiency letter (the “Warrant Letter”) was not accepted as the Company had provided
insufficient evidence to demonstrate that it can effect the Compliance Plan by its 36-month expiration date of December 6, 2024, at which
time the Company’s securities will be delisted from Nasdaq, irrespective of the Company’s progress or lack thereof toward
regaining compliance with the Rule, and that the Staff had determined to initiate procedures to delist the Company’s warrants from
Nasdaq due to the Company’s non-compliance.

Pursuant to the Notice,
unless the Company requests a hearing to appeal this determination by November 5, 2024, the Company’s warrants and units will be
suspended at the opening of business on November 5, 2024, and a Form 25-NSE will be filed with the SEC, which will remove the Company’s
warrants and units from listing and registration on Nasdaq (the “Warrant/Unit Delisting”). The Company does not intend to
request a hearing. The Warrant/Unit Delisting does not affect the listing or trading of the Company’s Class A ordinary shares on
the Nasdaq Global Market, other than those contained within the units. As of the date of this Quarterly Report on Form 10-Q, our warrants
and units have been suspended from trading; however, Nasdaq has not yet filed the Form 25-NSE with the SEC.

On December 10, 2024,
APx received a letter from the Listing Qualifications Department of Nasdaq stating that, pursuant to Nasdaq Listing Rule IM-5101-2, Nasdaq’s
staff had determined that (i) APx’s securities will be delisted from Nasdaq, (ii) trading of SPAC Class A Ordinary Shares, Public
Warrants, and SPAC Units would be suspended at the opening of business on December 17, 2024 and (iii) a Form 25-NSE will be filed with
the SEC, which will remove APx’s securities from listing