Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 249

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 249
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 Date to convert up to $1,500,000 of the principal outstanding under the Templar Note into that number of Working Capital Warrants equal to the portion of the principal amount of the Templar Note being converted divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the private placement warrants issued by APx at the time of its initial public offering. On February9, 2024, the Company and Templar Sponsor entered into a Amended and Restated Note, pursuant to which the Working Capital Promissory Note was amended and restated, to increase the maximum principal amount from $500,000 to $2,000,000. As of December31, 2024, the fair value of these Working Capital Warrants is not significant, according to APx’s estimates. Therefore, any shares issuable under these Warrants were not considered for the purposes of this pro forma information. Accounting for the Business Combination The portion of the Business Combination referring to the incorporation of APx will be accounted for as a capital reorganization in accordance with IFRS. Under this method of accounting, APx will be treated as the “acquired” company for financial reporting purposes, and OmnigenicsAI will be the accounting “acquirer.” This determination was primarily based on the assumptions that: •OmnigenicsAI’s shareholders will hold a majority of the voting power of the Combined Company; •OmnigenicsAI’s operations will substantially comprise the ongoing operations of the Combined Company; •OmnigenicsAI’s designees are expected to comprise a majority of the governing body of the Combined Company; and •OmnigenicsAI’s senior management will comprise the senior management of the Combined Company. Another determining factor was that APx does not meet the definition of a “business” pursuant to IFRS3, Business Combinations, and thus, for accounting purposes, the Business Combination will be accounted for as a capital reorganization. The net assets of APx will be stated at historical cost, with no goodwill or other intangible assets recorded. The Business Combination will be accounted for within the scope of IFRS 2 — Share -basedPayments (“IFRS 2”). As a result, any excess of fair value of the Company Shares issued over the fair value of APx’s identifiable net assets acquired, represent compensation for the service in respect of a stock exchange listing for the Company Shares and is exp