Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 253

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 253
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 Act, we may be forced to abandon our efforts to complete
a business combination and instead be required to liquidate the Company. To mitigate the risk of that result, we may decide to instruct
the trustee, not before on or about the 18-month anniversary of the effective date of the registration statement relating to the IPO,
to liquidate the securities held in the Trust Account and instead hold all funds in the Trust Account in cash. As a result, following
such change (if made), we will likely receive minimal, if any, interest, on the funds held in the Trust Account, which would reduce the
dollar amount that our public shareholders would have otherwise received upon any redemption or liquidation of the Company if the assets
in the Trust Account had remained in U.S. government securities or money market funds.”

If, after we distribute the funds in the Trust Account to our
public shareholders, we file a bankruptcy or winding-up petition or an involuntary bankruptcy or winding-up petition is filed against
us that is not dismissed, a bankruptcy or insolvency court may seek to recover such proceeds, and the members of our board of directors
may be viewed as having breached their fiduciary duties to our creditors, thereby exposing the members of our board of directors and us
to claims of punitive damages. 

If, after we distribute the funds in the Trust
Account to our public shareholders, we file a bankruptcy or winding-up petition or an involuntary bankruptcy or winding-up petition is
filed against us that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor/creditor and/or
bankruptcy or insolvency laws as either a “preferential transfer” or a “fraudulent conveyance.” As a result, a
bankruptcy or insolvency court could seek to recover some or all amounts received by our shareholders. In addition, our board of directors
may be viewed as having breached its fiduciary duty to our creditors and/or having acted in bad faith, thereby exposing itself and us
to claims of punitive damages, by paying public shareholders from the Trust Account prior to addressing the claims of creditors.

22

If, before distributing the funds in the Trust Account to our
public shareholders, we file a bankruptcy or winding-up petition or an involuntary bankruptcy or winding-up petition is filed against
us that is not dismissed, the claims of creditors in such proceeding may have priority over the claims of our shareholders and the per-share
amount that would otherwise be received by our shareholders in connection with our liquidation