Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 512

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 512
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 upon the Company’s consummation of a Business Combination. Management determined that there was an embedded conversion feature related to the note that would require bifurcation and be classified as a liability. However, as of March 31, 2025, the amount was determined to be de minimis. As of March 31, 2025, and December 31, 2024, a principal balance of $1,743,499 and $1,731,460 was outstanding under the Working Capital Promissory Note. Because the conversion feature of the note is capped at $1,500,000, this amount of the principal balance as of March 31, 2025 is presented as Convertible note payable, with the remaining non -convertibleportion of $243,499 presented as Notes payable. On August 26, 2024, the Company issued an unsecured promissory note (the “Bioceres Note”) in the principal amount of $446,000 to Bioceres LLC (“Bioceres”), an indirect shareholder of OmnigenicsAI Corp, the counterparty to the Company’s previously announced business combination. The Bioceres Note bears interest at 20% per annum. The Company shall repay all interest accrued and the principal balance on the date on which the Company consummates its initial business combination. As of March 31, 2025, the principal balance outstanding is $446,000. F-13 NOTES TO CONDENSED UNAUDITED FINANCIAL STATEMENTS
March 31, 2025 NOTE 1. DESCRIPTION OF ORGANIZATION, AND BUSINESS OPERATIONS AND GOING CONCERN (cont.) On November 7, 2024, the Company issued the unsecured Second Bioceres Note in the principal amount of $700,000 to Bioceres. The Second Bioceres Note bears interest at 20% per annum. The Company shall repay all interest accrued and the principal balance on the date on which the Company consummates its initial business combination. The note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the note as well as all accrued interest and all other sums payable with regard to the note becoming immediately due and payable. The note was amended and restated as of March 21, 2025, to include a principal amount of up to $712,038. As of March 31, 2025, the principal balance outstanding is $712,037. Based