Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 453

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 453
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 “Proposed Business Combination.” On August 27, 2024, Parent, MultiplAI and the MultiplAI Shareholders (with the consent of the Company) terminated the MultiplAI Share Purchase Agreement. As a result of such termination, MultiplAI will not be acquired by OmnigenicsAI, its business will not be combined pursuant to the Business Combination Agreement, and all rights and obligations of MultiplAI under the Business Combination Agreement shall cease and terminate, subject to certain exceptions. Except as set forth above, no other terms of the Business Combination have been modified, and the Company and OmnigenicsAI intend to complete the combination of their businesses (without the acquisition of MultiplAI) as set forth in the Business Combination Agreement. 235 For more information on the Business Combination, the Business Combination Agreement and related agreements, see “ The Business Combination,” “ The Business Combination Agreement” and “ Certain Agreements Related to the Business Combination.” Results of Operations Our entire activity from inception up to March31, 2025 was related to our formation and the IPO. Since the IPO, our activity has been limited to the evaluation of business combination candidates, and we will not be generating any operating revenues until the closing and completion of our initial business combination. We expect to generate small amounts of non -operatingincome in the form of interest income on cash and investments. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. We expect our expenses to increase substantially after this period. For the three months ended March31, 2025, we had a net loss of $3,676,898 which was comprised of operating costs of $351,503. In this period, we incurred unrealized loss of $3,339,250 related to the change in fair value of warrants, interest income of $65,522 from investments in our Trust Account and interest expense of $51,667. For the three months ended March31, 2024, we had a net loss of $2,249,261, which was comprised of operating costs of $1,305,094. In this period, we incurred unrealized loss of $1,757,500 related to the change in fair value of warrants and interest income of $813,333 from investments in our Trust Account. The operating expenses were primarily due to fees to professionals such as the auditors, legal counsel and consultants, and insurance expenses. For