Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1916

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 1916
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 on Form 10-K constitutes an offer to sell, or the solicitation of an offer to buy,
any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would
be unlawful. 

In the Share
Exchange Agreement, each of the Purchaser and the Sponsor represented to the Company that it is an “accredited investor”,
as defined in Rule 501 promulgated under the Securities Act, and the Company’s offer and sale of the Exchange Shares have been made
in reliance upon the exemption from the registration requirements of the Securities Act. 

The Company
may issue additional ordinary shares or preferred share to complete its Business Combination or under an employee incentive plan after
completion of its Business Combination. 

NOTE 10. CLASS A ORDINARY
SHARES SUBJECT TO POSSIBLE REDEMPTION 

The
Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting
Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares
subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable
ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or
subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as
temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s Class A
ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to
occurrence of uncertain future events. Accordingly, Class A ordinary shares subject to possible redemption are presented at
redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. 

The Company
recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal
the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares
are affected by charges against additional paid in capital and accumulated deficit. 

F-23

In February
of 2023, in connection with the vote to approve the First Extension and the Trust Amendment, the holders of 10,693,417 Public Shares properly
exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.41
per share, for an aggregate