Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 44

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 44
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 be forced to liquidate. For example, in February 2023 and May 2023, we issued
the First Promissory Note and Second Promissory Note, respectively. In addition, in September 2023, we issued the Working Capital Promissory
Note, which was amended and restated in February 2024. However, neither Templar Sponsor, members of our management team nor any of their
affiliates or third parties is under any obligation to advance funds to us in such circumstances. Any such advances would be repaid only
from funds held outside the Trust Account or from funds released to us upon completion of our initial business combination. Up to $1,500,000
of certain loans may be convertible into private placement warrants of the post-business combination entity at a price of $1.00 per warrant
at the option of the lender. Such warrants would be identical to the private placement warrants. In addition, we may need to engage in
private negotiations with third parties, our Sponsors, management, or its affiliates to secure loans that may not be in our favor in order
to complete our initial business combination. Third parties may not be willing to loan such funds and provide a waiver against any and
all rights to seek access to funds in our Trust Account. If we are unable to complete our initial business combination because we do not
have sufficient funds available to us, we will be forced to cease operations and liquidate the Trust Account. Consequently, our public
shareholders may only receive an estimated $12.05 per share, or possibly less, on our redemption of our public shares, and our warrants
will expire worthless.

20

Subsequent to our completion of our initial business combination,
we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative
effect on our financial condition, results of operations and the price of our securities, which could cause you to lose some or all of
your investment. 

Even if we conduct due diligence on a target business
with which we combine, we cannot assure you that this diligence will identify all material issues that may be present within a particular
target business, that it would be possible to uncover all material issues through a customary amount of due diligence, or that factors
outside of the target business and outside of our control will not later arise. As a result of these factors, we may be forced to later
write-down or write-off assets, restructure our operations,