Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1827

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 1827
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) holders of public shares who elect to have their shares redeemed in connection
with the consummation of our initial business combination. 

In connection
with the shareholders’ vote at the December 2024 EGM of shareholders held by the Company on December 4, 2024, 5,077,568 Public Shares
were tendered for redemption, leaving 520,056 Public Shares subject to redemption. As a result, $60,856,059.42 (approximately $11.99 per
share) will be removed from the Trust Account to pay such holders, without taking into account additional allocation of payments to cover
any tax obligation of the Company since that date. After the redemptions, $6,233,015.29 will remain in the Trust Account.

At December
31, 2024 and 2023, the Class A ordinary shares subject to possible redemption reflected in the balance sheet is reconciled in the following
table: 

    Class A ordinary shares subject to possible redemption at December 31, 2022 
    $178,530,147 
  
    Less: 

    Shares redeemed in February 2023 
     (111,346,281)
  
    Shares redeemed in September 2023 
     (8,273,281)
  
    Shares redeemed in December 2023 
     (2,246,585)
  
    Add: 

    Remeasurement of carrying value to redemption value 
     6,024,612 
  
    Class A ordinary shares subject to possible redemption at December 31, 2023 
    $62,688,612 
  
    Less: 

    Shares redeemed in December 2024 
     (60,856,059)
  
    Add: 

    Remeasurement of carrying value to redemption value 
     4,436,272 
  
    Class A ordinary shares subject to possible redemption at December 31, 2024 
    $6,268,825 

NOTE 11. FAIR VALUE MEASUREMENTS

The fair
value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have
received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction
between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company
seeks to maximize the use of observable inputs (market data obtained from