Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 205

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 205
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 the amount available to complete the Business Combination, and APx will depend on loans from the Sponsor to complete the Business Combination. The funds available to APx outside of the Trust Account may not be sufficient to allow APx to operate until the Extended Date. On September 8, 2023, APx issued the Working Capital Promissory Note. On February 9, 2024, APx issued the Amended and Restated Note, amending and restating the Working Capital Promissory Note to increase the maximum principal amount from $500,000 to $2,000,000 and to provide that, in addition to funding working capital needs, amounts under the Amended and Restated Note may be used for the purposes of making one or more payments to Continental Stock Transfer & Trust Company, a New York limited liability trust company, as Extension Payments (as defined in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on November 29, 2023, as amended). The Amended and Restated Note bears no interest and is repayable in full upon the earlier of the date on which the Company consummates its initial business combination or the date of the Company’s liquidation. If APx completes a business combination, APx will repay the Amended and Restated Note and any other Working Capital Loans out of the proceeds of the Trust Account released to the post -closingcompany, funds held outside of the Trust Account, or from any available cash on the post -closingcompany’s balance sheet. In the event that a business combination does not close, APx may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay such amounts as the Amended and Restated Note contains an express waiver against any and all rights to seek access to funds in the Trust Account. If APx were to liquidate, it may be unable to repay and or all amounts due under the Working Capital Promissory Loans and the Sponsor may be required to forgive any such outstanding balance thereunder. As of March31, 2025, there was $1,743,499 outstanding under the Amended and Restated Note. If APx is required to seek additional capital, APx would need to borrow funds from the Initial Shareholders or other third parties to operate or may be forced to liquidate. Neither the Initial Shareholders nor any of their affiliates is under any obligation to advance funds to APx in such circumstances. Any such