Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 248

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 248
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 EarlyBird Fees. For more information, see “ Certain Agreements Relating to the Business Combination — EarlyBird Engagement Letter.” On September8, 2023, APx issued the Working Capital Promissory Note in the principal amount of $500,000 to Templar Sponsor. The Templar Note does not bear interest and the principal balance will be payable on the Maturity Date, on which the Company consummates its initial business combination. In the event APx consummates its initial business combination, the Templar Sponsor has the option on the Maturity Date to convert up to $1,500,000 of the principal outstanding under the Templar Note into that number of Working Capital Warrants equal to the portion of the principal amount of the Templar Note being converted divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the private placement warrants issued by APx at the time of its initial public offering. On February9, 2024, the Company and Templar Sponsor entered into a Amended and Restated Note, pursuant to which the Working Capital Promissory Note was amended and restated, to increase the maximum principal amount from $500,000 to $2,000,000. As of December31, 2024, the fair value of these Working Capital Warrants is not significant, according to APx’s estimates. Therefore, any shares issuable under these Warrants were not considered for the purposes of this pro forma information. 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 IFRS3, Business Combinations, and thus, for