Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 433

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 433
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2024, the Company held an extraordinary
general meeting (the “December 2024 EGM”) and the shareholders approved an amendment to its Articles and to the Trust Agreement
to extend the time to complete the initial business combination from December 9, 2024 to December 9, 2025 (i.e., for up to a period ending
48 months after the consummation of the IPO) (the “Fifth Extension”). No further Extension Payments are required in connection
with the Fifth Extension.

Effecting Our Initial Business Combination 

General 

We are not presently engaged in, and we will not
engage in, any operations for an indefinite period of time following the IPO. We intend to effectuate our initial business combination,
including the Proposed Business Combination using remaining cash in the Trust Account from the proceeds of the IPO and the private placement
of the private placement warrants, the proceeds of the sale of our shares in connection with our initial business combination (pursuant
to forward purchase agreements or backstop agreements we may enter into following the consummation of the IPO or otherwise), shares issued
to the owners of the target, debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing. We may
seek to complete our initial business combination with a company or business that may be financially unstable or in its early stages of
development or growth, which would subject us to the numerous risks inherent in such companies and businesses.

If our initial business combination is paid for
using equity or debt securities, or not all of the funds released from the Trust Account are used for payment of the consideration in
connection with our initial business combination or used for redemptions of our Class A ordinary shares, we may use the balance of the
cash released to us from the Trust Account following the closing for general corporate purposes, including for maintenance or expansion
of operations of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing our initial
business combination, to fund the purchase of other companies or for working capital.

Although our management will assess the risks
inherent in a particular target business with which we may combine, we cannot assure you that this assessment will result in our identifying
all risks that a target business may encounter. Furthermore, some of those risks may be outside of our control, meaning that we can do
nothing to control or reduce the chances that those risks will adversely affect a target business.

We may seek to raise additional funds through