Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 239

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 239
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,000,000 to OmnigenicsAI that exceeds the aggregate amount of cash on deposit in the Trust Account (including any interest earned on the funds held in the Trust Account) remaining after payment in full of the SPAC Shareholder Redemption Amount, and that the Company will issue Company Shares at an issue price of $10.00 per Company Share. See “ Questions and Answers about the Business Combination and the Special Meeting — Q. What equity stake will our current shareholders and shareholders of the Target hold in OmnigenicsAI immediately after consummation of the Business Combination” and “ Certain Agreements Related to the Business Combination — Backstop Agreement.” The preceding table does not consider Company Shares that may be issued to Earlybird pursuant to the EarlyBird Engagement Letter, which provides that, if the Business Combination closes, EarlyBird is entitled to the EarlyBird Fees, comprising of $2,000,000, of which up to $500,000 may be payable in Company Shares on the six -monthanniversary of the Closing. If the Closing does not occur, EarlyBird will not be entitled to the EarlyBird Fees. For more information, see “ Certain Agreements Relating to the Business Combination — EarlyBird Engagement Letter.” The pro forma adjustments do not have an income tax effect as they are either (i) incurred by legal entities that are not subject to a corporate income tax, or (ii) permanently nondeductible or nontaxable based on the laws of the relevant jurisdiction, or (iii) the companies involved in the business combination have losses and those tax losses are not recognized on each financial statement. Accounting for the Business Combination The portion of the Business Combination referring to the incorporation of APx will be accounted for as a capital reorganization in accordance with IFRS. Under this method of accounting, APx will be treated as the “acquired” company for financial reporting purposes, and OmnigenicsAI will be the accounting “acquirer.” This determination was primarily based on the assumptions that: •OmnigenicsAI’s shareholders will hold a majority of the voting power of the Combined Company; •OmnigenicsAI’s operations will substantially comprise the ongoing operations of the Combined Company; •OmnigenicsAI’s designees are expected to comprise a majority of the governing body of the Combined Company; and •OmnigenicsAI’s senior management will comprise the senior management of the Combined Company. Another determining factor was that APx does not meet the definition of a “business” pursuant to IFRS