Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 199

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 199
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 from regulating the sale of certain securities, which are referred to as “covered securities.” While we currently satisfy the net tangible asset test exempting our securities as “covered securities”, there can be no assurance that we will satisfy such requirement in the future. Additionally, while 78 we expect the Company Shares and Company Warrants to be listed on Nasdaq, and therefore considered covered securities under such statute, there can be no assurance that the Company’s application to list the Company Shares and Company Warrants will be accepted, or that the Company will be able to maintain the listing of the Company Shares or Company Warrants. Although states are preempted from regulating the sale of our securities, this federal statute does allow the states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank check companies in their respective states. If the Company Shares and Company Warrants are no longer listed on a national securities exchange, such securities would not be covered securities and the Company therefore may become subject to such additional regulation in each state resulting from the loss of “covered securities” status, including in connection with a business combination. A further negative consequence of our delisting from Nasdaq will result from the fact that the closing of the Business Combination is conditioned on the listing of the post -combinationcompany on Nasdaq. Although we believe that, after our securities are delisted from Nasdaq, we may still potentially be able to meet Nasdaq’s initial listing requirements via the consummation of the Business Combination, there can be no guarantee that Nasdaq will approve such initial listing application, which may delay, or ultimately prevent the consummation of the proposed Business Combination. If we are unable to consummate the Business Combination or any other business combination and are forced to liquidate, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our securities following such a transaction, and any Public Warrants held by our investors would expire worthless. The Initial Shareholders have agreed to vote in favor of the Business Combination, regardless of how the Public Shareholders vote