Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 103

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 103
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 of our new products. The successful commercialization of these tests will also be subject to the factors listed above, among others. If we are unable to successfully commercialize these new products, our business, results of operations, financial condition and growth prospects may be adversely affected. We depend on CIBIC, one of our indirect shareholders, for a substantial part of our revenues, and if the Commercialization Agreement is terminated, our business and results of operations would be materially adversely affected. On January 3, 2017, Heritas Argentina entered into a commercialization agreement, as amended on October1, 2018 by addendum No.1, and on February1, 2025 by addendum No. 2 (the “Commercialization Agreement”) with CIBIC, a shareholder of the Parent, pursuant to which we appointed CIBIC as exclusive agent for the commercialization of Heritas Diagnostics tests in Argentina. Pursuant to the Commercialization Agreement, CIBIC supplies, according to the specifications and requirements of Heritas Argentina, the requisite reagents and equipment. Furthermore, 25 CIBIC is responsible for covering the maintenance expenses of the equipment necessary for the implementation of the Commercialization Agreement. In consideration thereof, we, through Heritas Argentina delivers the final report to execute the activities and services contemplated by the Commercialization Agreement. We are exposed to significant customer concentration risk as our relationship with CIBIC accounted for 97.9%, 93.5% and 96.6% of our revenues for the six months ended December31, 2024 and for the years ended June30, 2024 and 2023, respectively. The Commercialization Agreement is valid for 30 years from the signing date and will be automatically renewed for ten -yearperiods unless terminated with proper notice. The Commercialization Agreement may be terminated (i) when its 30 -yearterm is completed, (ii) if one of the parties becomes insolvent, petitions for bankruptcy or begins liquidation, or (iii) by Heritas Argentina in the event of a change of control of CIBIC. In the event that the Commercialization Agreement is terminated, it may be difficult for Heritas Argentina to find a new agent for the commercialization of Heritas Diagnostics tests in Argentina and to agree on pricing on commercially acceptable terms. In this scenario, Heritas Argentina may be unable to timely develop its sales capabilities and to organize a marketing strategy, which could adversely affect its business and results of operations. The termination