Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1855

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 1855
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 upon a review of such forms), we
believe that during the year ended December 31, 2024 there were no delinquent filers with the following exceptions: (i) each of APX Sponsor,
David Proman and Angel Moreno failed to timely file a Form 4 with respect to the transactions contemplated by the Purchase Agreement
and (ii) Kyle Bransfield failed to (i) timely file his Form 3 with respect to the transactions contemplated by the Purchase Agreement
and (ii) timely file a Form 4 relating to the conversion of Class B ordinary shares into Class A ordinary shares.

ITEM 11. EXECUTIVE COMPENSATION. 

None of our officers or directors have received
any cash compensation for services rendered to us. Commencing on the date that our securities are first listed on Nasdaq through the
earlier of consummation of our initial business combination and our liquidation, we were required to pay APX Sponsor or an affiliate
thereof up to $10,000 per month for office space, utilities, secretarial and administrative support services provided to members of our
management team and other expenses and obligations of APX Sponsor. In connection with the Sponsor Alliance, this agreement has been terminated.

In addition, our Sponsors, officers and directors,
or any of their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our
behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee
will review on a quarterly basis all payments that were made to our Sponsors, officers or directors, or our or their affiliates. Any
such payments prior to an initial business combination will be made from funds held outside the Trust Account. Other than quarterly audit
committee review of such reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments
to our directors and officers for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection
with identifying and consummating an initial business combination. Other than these payments and reimbursements, no compensation of any
kind, including finder’s and consulting fees, will be paid by the Company to the Sponsors, officers and directors, or any of their
respective affiliates, prior to completion of our initial business combination.

After the completion of our initial business
combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined
company. All of these fees