Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 18

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 18
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, March 12, 2024, April 8, 2024, and May 28, 2024, APx deposited $125,000 each month into the Trust Account as Extension Payments in order to effect six one -monthextensions of the termination date to June 9, 2024. After failing to make timely extension payments for each of the months of June, July and August 2024, on September 27, 2024, APx deposited a lumpsum of $379,740 for back payments to the Trust representing $125,000 for each of the months of June, July and August 2024 as Extension Payments to extend the termination date to September 9, 2024, with amounts including accrued interest. After failing to make timely extension payments for each of the months of September and October 2024, on November 8, 2024, APx deposited a lumpsum of $375,000 for back payments to the Trust representing $125,000 for each of the months of September 2024 and November 2024 as Extension Payments to extend the termination date to December 9, 2024. Pursuant to APx’s Existing Governing Documents effective as of such time, upon the first failure to make an Extension Payment on the date such payment was due, APx was required to: (i) cease all operations for the purpose of winding up; (ii) redeem all of the Public Shares and distribute the funds in the Trust Account to the Public Shareholders; (iii) following such redemption and subject to the approval of the remaining shareholders, liquidate and dissolve the company (collectively, the “Wind Up Requirement”). While APx did comply with the Wind Up Requirement, all of its Public Shareholders were subsequently given the right to redeem their Public Shares in connection with the December 2024 EGM (as defined and described below). Those who elected to redeem their Public Shares for any reason were permitted to do so pursuant to the terms of the Existing Governing Documents, and those who elected not to redeem continued to hold their Public Shares. The APx Board believes that, given the executed Business Combination Agreement and the advanced stage of the Business Combination, permitting those shareholders who elected not to redeem to remain invested in APx was in the best interest of APx. On December 4, 2024, APx held an extraordinary general meeting (the “December 2024 EGM”) and its shareholders approved an amendment to its Articles and to the