Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 54

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 54
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 indirect shareholder of Parent, as the lender, and UG Holdings LLC, an affiliate of Mr. Bransfield, as the pledgor (such agreement as amended, the “Sponsor Loan Agreement”). Mr. Bransfield, as borrower, also entered into a pledge and security agreement, with Bioceres Group PLC, as the lender, and UG Holdings LLC, as the pledgor, pursuant to which, in order to secure his obligations under the Sponsor Loan Agreement, he pledged 100,000 ordinary shares of Moolec Science SA as security. The Sponsor Loan Agreement was amended on September6, 2023 to increase the credit line from $250,000 to $275,000; on October12, 2023 to increase the credit line to $400,000; on November9, 2023 to increase the credit line to $1,000,000; and on March25, 2024 to increase the credit line to $2,000,000. On November9, 2023, the rights and obligations of Mr. Bransfield under the Sponsor Loan Agreement were transferred to the Sponsor and the Sponsor assumed such rights and obligations. On March25, 2024, the parties entered into a fourth amendment to the Sponsor Loan Agreement, pursuant to which certain commercial conditions were amended, including the placement of a legend on 700,000 SPAC Ordinary Shares owned by the Sponsor and changes to the maturity date. The Sponsor Loan Agreement accrues interest at 11% per annum and matures either on the first, second or third anniversary of the closing of the Business Combination, according to certain thresholds related to the volume weighted average price of Company Shares on such dates. As of March31, 2025, $2,000,000 has been drawn under the Sponsor Loan Agreement, of which $1,743,499 has been lent onward from the Sponsor to APx under the Amended and Restated Note. If APx does not complete an initial business combination, it is unlikely that Sponsor will recover funds drawn by APx under the Amended and Restated Note and, as a result, such funds will not be available to repay amounts drawn under the Sponsor Loan Agreement; •on August26, 2024, APx issued an unsecured promissory note in the principal amount of $446,000 to Bioceres, an indirect shareholder of the Company, and on November7, 2024, APx issued an unsecured promissory note in the principal amount of