Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1910

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 1910
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 $500,000 of the transaction fee in ordinary shares of the
post-business combination company (in lieu of cash), with such issuance to occur on the six month anniversary of the closing of the business
combination, and valued based on the volume weighted average price of the post business combination company’s ordinary shares for
the ten trading days immediately preceding the six month anniversary of the closing of the business combination. 

F-20

Structuring Services Agreement

On May 18,
2023, Grupo Promotor de Desarrollo e Infraestructura, S.A. de C.V. (“Prodi Capital”) engaged the Company to act as a structuring
agent in connection with potential transaction related to a business combination. The Company will be entitled to customary fees in such
capacity, with payment due upon finalization of the advisory services. In connection with the Sponsor Alliance Transaction (see Note 1),
the Company ended the services agreement. For the years ended December 31, 2024 and 2023, the Company received nil for services rendered
in relation to this agreement. 

NOTE 8. WARRANT LIABILITY

The Company
accounted for the 17,575,000 warrants issued in connection with the Public Offering (8,625,000 Public Warrants and 8,950,000 Private Placement
Warrants) in accordance with the guidance contained in ASC 815-40. Such guidance provides that because the warrants do not meet the criteria
for equity treatment thereunder, each warrant must be recorded as a liability. Accordingly, the Company has classified each warrant as
a liability at its fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement,
the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statement of operations.

Public Warrants
may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public
Warrants will become exercisable on the later of (a) 30 days after the consummation of a Business Combination or (b) 12 months from the
closing of the Initial Public Offering. The Public Warrants will expire five years from the consummation of a Business Combination or
earlier upon redemption or liquidation. 

The Company
will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a Public Warrant and will have no obligation
to settle such Public Warrant