Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 599

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 599
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F-22

NOTE 9. SHAREHOLDERS’
DEFICIT 

Preferred
Shares - The Company is authorized to issue 1,000,000 shares of $0.0001 par value preferred shares. As of December 31, 2024 and
2023, there were no preferred shares issued or outstanding.

Class
A Ordinary shares - The Company is authorized to issue 200,000,000 shares of $0.0001 par value Class A shares. As of December
31, 2024 and 2023, there were 4,312,500 shares issued and outstanding (excluding 520,056 and 5,597,624 shares subject to possible redemption
as of December 31, 2024 and 2023, respectively). 

Class
B Ordinary shares - The Company is authorized to issue up to 20,000,000 shares of Class B, $0.0001 par value ordinary shares.
Holders of the Company’s ordinary shares are entitled to one vote for each share. At December 31, 2024 and 2023, there were zero
Class B ordinary shares issued and outstanding. 

The shares
of Class B ordinary shares will automatically convert into shares of Class A ordinary shares at the time of the Business Combination on
a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like. In the
case that additional shares of Class A ordinary shares, or equity linked securities, are issued or deemed issued in excess of the amounts
offered in the Initial Public Offering and related to the closing of a Business Combination, the ratio at which shares of Class B ordinary
shares shall convert into shares of Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding shares
of Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of
shares of Class A ordinary shares issuable upon conversion of all shares of Class B ordinary shares will equal, in the aggregate, on an
as converted basis, 20% of the sum of the total number of all shares of ordinary shares outstanding upon the completion of the Initial
Public Offering plus all shares of Class A ordinary shares and equity linked securities issued or deemed issued in connection with a Business
Combination (excluding any shares or equity linked securities issued, or to be issued, to any seller in a Business Combination, and any
private placement-equ