Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 492

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 492
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 more easily than some other special purpose acquisition companies, and this may increase our ability
to complete a business combination with which you do not agree. Our shareholders may pursue remedies against us for any breach of our
Articles.

36

Our Sponsors, officers and directors have agreed,
pursuant to a written agreement with us, that they will not propose any amendment to our Articles (A) to modify the substance or timing
of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we
do not complete our initial business combination within the Combination Period or (B) with respect to any other material provisions relating
to shareholders’ rights or pre-initial business combination activity, unless we provide our public shareholders with the opportunity
to redeem their Class A ordinary shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released
to us to pay our taxes, divided by the number of then outstanding public shares. Our shareholders are not parties to, or third-party
beneficiaries of, these agreements and, as a result, will not have the ability to pursue remedies against our Sponsors, officers or directors
for any breach of these agreements. As a result, in the event of a breach, our shareholders would need to pursue a shareholder derivative
action, subject to applicable law.

We may amend the terms of the warrants in a manner that may
be adverse to holders of public warrants with the approval by the holders of at least 65% of the then outstanding public warrants, or
for amendments necessary for the warrants to be classified as equity. As a result, the exercise price of your warrants could be increased,
the exercise period could be shortened and the number of Class A ordinary shares purchasable upon exercise of a warrant could be decreased,
all without your approval. 

Our warrants will be issued in registered form
under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides
that the terms of the warrants may be amended without the consent of any shareholder or warrant holder to cure any ambiguity or correct
any defective provision or to make any amendments that are necessary in the good faith determination of our board of directors (taking
into account then existing market precedents) to allow for the warrants to be classified as equity in our financial statements (provided
that any