Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 58

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 58
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 approval from our shareholders,
may result in the completion of our initial business combination that may not otherwise have been possible, and may have an adverse effect
on the value of an investment in our securities. For example, amendments to the lock-up provision discussed above may result in our initial
shareholders selling their securities earlier than they would otherwise be permitted, which may have an adverse effect on the price of
our securities.

Our initial shareholders, including our Sponsors, control a
substantial interest in us and thus may exert substantial influence on actions requiring a shareholder vote, potentially in a manner
that you do not support. 

Our initial shareholders, including our Sponsors,
own 89.2% of our issued and outstanding ordinary shares. Accordingly, they may exert a substantial influence on actions requiring a shareholder
vote, potentially in a manner that you do not support, including amendments to our Articles. If our initial shareholders purchase any
units in the IPO or if our initial shareholders purchase any additional Class A ordinary shares in the aftermarket or in privately negotiated
transactions, this would increase their control. Neither our initial shareholders nor, to our knowledge, any of our officers or directors,
have any current intention to purchase additional securities, other than as disclosed in this Form 10-K. Factors that would be considered
in making such additional purchases would include consideration of the current trading price of our Class A ordinary shares. In addition,
our board of directors, whose members were appointed by Templar Sponsor, is and will be divided into three classes, each of which will
generally serve for a term for three years with only one class of directors being appointed in each year. We may not hold an annual general
meeting to appoint new directors prior to the completion of our initial business combination, in which case all of the current directors
will continue in office until at least the completion of the business combination. If there is an annual general meeting, as a consequence
of our “staggered” board of directors, only a minority of the board of directors will be considered for appointment and our
initial shareholders, because of their ownership position, will have considerable influence regarding the outcome. Accordingly, our initial
shareholders will continue to exert control at least until the completion of our initial business combination.

27

As the number of special purpose acquisition companies evaluating
targets increases, attractive targets may become scarcer and there may be more competition for attractive targets. This could increase
the cost of our initial business combination and could even result in our inability to find a