Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1677

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 1677
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 any founder shares or public
shares held by it in connection with a shareholder vote to approve a proposed initial business combination.

Our Sponsors and our officers and directors are
deemed to be our “promoters” as such term is defined under the federal securities laws. See Item 13-”Certain Relationships
and Related Transactions, and Director Independence-Related Party Policy” for additional information regarding our relationships
with our promoters.

Equity Compensation Plans 

As of December 31, 2024, we had no compensation
plans (including individual compensation arrangements) under which equity securities were authorized for issuance.

62

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,
AND DIRECTOR INDEPENDENCE. 

Related Party Transactions 

Founder Shares 

On May 21, 2021, we issued to APX Sponsor an
aggregate of 4,312,500 Founder Shares in exchange for a capital contribution of $25,000, or approximately $0.006 per share. On November
8, 2021, APX Sponsor transferred 20,000 of our Founder Shares to two independent directors at such time, Angel Losada Moreno and David
Proman, in each case at their original purchase price.

In connection with the Transfer, APX Sponsor
transferred to the Templar Sponsor 3,342,188 Founder Shares. In addition, in connection with the Transfer, Mr. Moreno and Mr. Proman
each transferred their 20,000 Founder Shares back to APX Sponsor.

On October 2, 2023, each of the Templar Sponsor
and the APX Sponsor converted all of its Class B ordinary shares on a one-for-one basis into Class A ordinary shares.

Working Capital Promissory Note 

On September 8, 2023, the Company issued an unsecured
promissory note (the “Templar 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 date on which the Company consummates its initial business combination (the
“Maturity Date”). In the event the Company 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 warrants (“Working
Capital Warrants”) equal to the portion of the principal amount of the Templar Note being converted divided by $