Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 786

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 786
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 “Termination Date”) up to three (3) times for an additional one
(1) month each time (each, an “Extension”) from September 9, 2023 to December 9, 2023, by depositing the lesser of $0.025
per public share or $125,000 (each such payment, an “Extension Payment”) for each one-month extension into the Company’s
trust account (the “Trust Account”). In connection with the September 2023 EGM, the holders of 757,463 public shares properly
exercised their right to redeem their shares (and did not withdraw their redemption) for an aggregate redemption amount of approximately
$8,273,281. Following such redemptions, approximately $63,340,058 remained in the trust account and 5,799,120 public shares remained
issued and outstanding. Such remaining amount in the trust account will be distributed either to (i) all holders of public shares upon
our liquidation or (ii) holders of public shares who elect to have their shares redeemed in connection with the consummation of our initial
business combination. 

On September 15, 2023, October 19, 2023 and November
13, 2023, the Company deposited $125,000 into the Trust Account in order to effect three one-month extensions of the termination date,
from September 9, 2023 to December 9. 2023. 

Fourth Extension 

On December 8, 2023, the Company held an extraordinary
general meeting (the “December 2023 EGM”) and its shareholders approved an amendment to its Articles and to the Trust Agreement
to extend the Termination Date up to twelve (12) times for an additional one (1) month each time from December 9, 2023 to December 9,
2024, by depositing the lesser of $0.025 per public share or $125,000 for each one-month extension into the Company’s Trust Account.
In connection with the December 2023 EGM, the holders of 201,496 public shares properly exercised their right to redeem their shares
(and did not withdraw their redemption) for an aggregate redemption amount of $2,246,585. Following such redemptions, 62,410,856 remained
in the trust account and 5,597,624 public shares remained issued and outstanding. Such remaining amount in the trust account will be
distributed either to (