Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 266

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 266
---
 process and circulated a first draft to MultiplAI on July 20, 2023. 123 On July 1, 2023, the Sponsor informed OmnigenicsAI that a potential SPAC target was identified, and they would be drafting a purchase agreement to acquire 100% of shares of APx. On July 24, while on a business development trip to Mexico, Mr. Calmet met with APx management to present the OmnigenicsAI opportunity, company vision and strategic plan, and explore a potential business combination between OmnigenicsAI and APx. One point of interest between both parties was that OmnigenicsAI’s plan was to expand to Mexico, APx’s principal place of business. In addition, APx valued that OmnigenicsAI was not a startup per se but a spin -offfrom two parent companies: Bioceres S.A., an established agricultural solutions company, and CIBIC laboratories, a biotechnology in the clinical diagnostics industry based in Argentina, as described above. On July 3, 2023, the Sponsor, the Parent and Theo entered into the Heritas LOI. The execution version was substantially similar to the previously circulated draft, provided that it contemplated Sponsor act as the sponsor for the transaction for the reasons described above. Parent and Theo are both affiliates of Bioceres, and direct or indirect shareholders of OmnigenicsAI and Heritas Argentina, controlling such entities. While the Heritas LOI refers to the acquisition of Parent and Theo, through subsequent structuring discussions, the parties determined that the appropriate legal target would be OmnigenicsAI. On July 25, 2023, OmnigenicsAI management had a meeting with its board of directors to discuss the MultiplAI transaction, the repercussions and benefits of the deal with OmnigenicsAI and the strategy to go public through a business combination transaction. During this meeting, high level terms and conditions of the LOI were aligned to execute the LOI with MultiplAI (the “MultiplAI LOI”). On July 31, 2023, OmnigenicsAI’s Board of Directors met with MultiplAI to discuss these terms and conditions, specifically the valuation of both companies, given that OmnigenicsAI was negotiating a $300 million valuation with the Sponsor for the de -SPACtransaction. In parallel, negotiations occurred via different channels during the following weeks, specifically regarding representations and warranties and expenses. On August 9, 2023, Mr. Calmet met with the