Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 154

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 154
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 In connection with such vote, the holders
of 10,693,417 public shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for an aggregate
redemption amount of $111,346,281. Following such redemptions, approximately $68,271,081 remained in the trust account and 6,556,583
public shares remained issued and outstanding. Such remaining amount in the trust account will be distributed either to (i) all holders
of public shares upon our liquidation or (ii) holders of public shares who elect to have their shares redeemed in connection with the
consummation of our initial business combination. Accordingly, on March 1, 2023, the Company deposited $750,000 into the Trust Account
in order to effect the extension of the termination date, from March 9, 2023 to June 9, 2023 (the “First Extension”). On
June 22, 2023, the Company deposited an additional $750,000 into the Trust Account for a subsequent extension of the termination date,
from June 9, 2023 to September 9, 2023 (the “Second Extension”), that the Company may need to complete an initial business
combination. 

F-8

Third Extension 

On September 7, 2023, the Company held an extraordinary
general meeting (the “September 2023 EGM”) and its shareholders approved an amendment to its Articles and to the Trust Agreement
to extend the time to complete a business combination (the “Termination Date”) up to three (3) times for an additional one
(1) month each time (each, an “Extension”) from September 9, 2023 to December 9, 2023, by depositing the lesser of $0.025
per public share or $125,000 (each such payment, an “Extension Payment”) for each one-month extension into the Company’s
trust account (the “Trust Account”). In connection with the September 2023 EGM, the holders of 757,463 public shares properly
exercised their right to redeem their shares (and did not withdraw their redemption) for an aggregate redemption amount of approximately
$8,273,281. Following such redemptions, approximately $63,340,058 remained in the trust account and 5,799,120 public shares remained
issued and outstanding. Such remaining amount in the trust account will be distributed either