Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 733

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 733
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 of warrants, $175,950,000 was placed in the Trust Account, comprised of $172,500,000 of the proceeds from the IPO, including
$6,037,500 of the underwriters’ deferred discount, and $8,950,000 of the proceeds of the sale of the Private Placement Warrants.
We paid $3,450,000 in underwriting discounts and recorded approximately $833,597 for other costs and expenses related to the IPO. There
has been no material change in the planned use of proceeds from the IPO as described in the prospectus dated November 19, 2021, which
was filed with the SEC.

The Company paid an underwriting discount at
the closing of the IPO of $3.45 million. An additional fee of $6.04 million was deferred and would become payable upon our completion
of an initial business combination. The deferred portion of the discount would become payable to the underwriters from the amounts held
in the Trust Account solely in the event we complete our initial business combination subject to the terms of the underwriting agreement.
However, on September 28, 2022, the underwriters waived their right to receive the deferred fee, resulting in a gain from settlement
of deferred underwriting commissions of approximately $6.04 million.

ITEM 6. [Reserved] 

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS. 

The following discussion and analysis of the Company’s financial
condition and results of operations should be read in conjunction with the audited financial statements and the notes related thereto
which are included in “Item 8. Financial Statements and Supplementary Data” of this Annual Report. Certain information contained
in the discussion and analysis set forth below includes forward-looking statements. Our actual results may differ materially from those
anticipated in these forward-looking statements as a result of many factors. Certain information contained in the discussion and analysis
set forth below includes forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking
statements as a result of many factors, including those set forth under “Cautionary Note Regarding Forward-Looking Statements and
Risk Factor Summary,” “Item 1A. Risk Factors” and elsewhere in this Annual Report.

Overview 

We are a blank check company incorporated on
May 13, 2021 as a Cayman Islands exempted company formed for the purpose of effecting an initial business combination. We intend to