Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 7

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 Agent Fee”) equal to (a)
4.5% of the aggregate equity amount funded by investors contacted by EBC in connection with the placement, and (b) 2.5% of the aggregate
debt financing amount, including secured and convertible debt, funded by investors contacted by EBC in connection with the placement.
On August 22, 2023, the Company and EBC entered into a letter agreement (the “Letter Amendment”) which terminated the Placement
Agency Agreement (including, for the avoidance of doubt, the Placement Agent Fee) and amended the Advisory Agreement. Pursuant to the
Letter Amendment, the Advisory Agreement was amended to provide that the Company, at its option, could elect to pay up to $500,000 of
the Transaction Fee in ordinary shares of the post-business combination company (in lieu of cash), with such issuance to occur on the
six month anniversary of the closing of the business combination, and valued based on the volume weighted average price of the post-business
combination company’s ordinary shares for the ten trading days immediately preceding the six month anniversary of the closing of
the business combination.

On December 21, 2023,
the Company received a deficiency letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market
(“Nasdaq”). The Letter notified the Company that since the Company had not yet filed its Quarterly Report on Form 10-Q for
the quarter ended September 30, 2023, the Company does not comply with Nasdaq’s Listing Rule 5250(c)(1) relating to the Company’s
obligation to file periodic financial reports for continued listing. The Letter further stated that the Company had until February 19,
2024, to submit a plan to regain compliance with respect to the delinquent reports. The Company subsequently filed its Quarterly Report
on Form 10-Q for the quarter ended September 30, 2023, within the cure period provided by Nasdaq within the Letter.

On May 30, 2024, the Company
received a deficiency letter (the “Report Letter”) from the Listing Qualifications Department of Nasdaq. The Report Letter
notified the Company that since the Company had not yet filed its Annual Report on Form 10-K for the year ended December 31, 2023, and
its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, the Company does not comply with Nasdaq’s Listing Rule 5250