Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 2233

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 2233
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 will collectively
own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. As of December
31, 2024 and 2023, all of the over-allotment units had been settled simultaneously with the close of the IPO. No Class B ordinary shares
were forfeited or subject to forfeiture. 

Other than
as described above, the Sponsor has agreed not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A)
one year after the completion of a Business Combination or (B) the date on which the Company completes a liquidation, merger, capital
stock exchange or similar transaction that results in the Company’s shareholders having the right to exchange their shares of ordinary
shares for cash, securities or other property. Notwithstanding the foregoing, if the last sale price of the Company’s Class A ordinary
shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like)
for any 20 trading days within any 30-trading day period commencing at least 120 days after the Business Combination, the Founder Shares
will be released from the lock-up. 

F-18

On September
8, 2023, as part of the Purchase Agreement between the Company’s Sponsor, APx Cap Sponsor Group I, LLC (the “Sponsor”)
transferred to Templar LLC and its designees (the “Purchaser”), 3,342,188 of the Company’s class B ordinary shares,
$0.0001 par value (the “Founder Shares”) purchased at the time of the Company’s initial public offering (“IPO”)
pursuant to a Private Placement Warrants Purchase Agreement, dated December 6, 2021. The Sponsor retained 970,312 Founder Shares. The
transfer was executed as part of the Sponsor Alliance Transaction. 

Related Party Loans  / Promissory Note - Related Party

In
order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor, an affiliate of the
Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the
“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes would either be
repaid upon consummation of a Business Combination, without interest, or, at the lender