Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 673

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 673
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 continued listing. The Report
Letter further stated that the Company has until July 29, 2024, to submit a plan to regain compliance with respect to the delinquent
reports.

On July 24, 2024, the Company submitted
its plan to regain compliance with respect to its failure to timely file its Annual Report on Form 10-K for the year ended December 31,
2023, and the Quarterly Report on Form 10-Q  for the quarter ended March 31, 2024 (collectively the “Forms”).
The remediation plan entails filing of the Form in advance of September 27, 2024, which would be the expiration of the 180-day exception
period pursuant to Nasdaq Listing Rule 5810(c)(2)(F)(ii) as referenced in the Report Letter. On September 4, 2024, Nasdaq notified
the Company that it has been granted an extension to regain compliance with the above referenced requirements (and the requirement to
file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024), which extension terminated on September 27,
2024. The Company filed the Forms and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 prior to the expiration
of such deadline.

F-7

On September 4, 2024, the Company received
a deficiency letter (the “Warrant Letter”) from Nasdaq. The Warrant Letter notified the Company had failed to maintain a
minimum of $1,000,000 in aggregate market value of its outstanding warrants and is not in compliance with Nasdaq’s Listing
Rule 5452(b)(C). The Warrant Letter further stated that the Company has until October 21, 2024, to submit a plan to regain compliance
with respect to such deficiency.

On October 29, 2024, the Company received
written notice from the Staff (the “November Notice”), stating that the Compliance Plan the Company submitted in response
to the September 4, 2024 deficiency letter (the “Warrant Letter”) was not accepted as the Company had provided insufficient
evidence to demonstrate that it can effect the Compliance Plan by its 36-month expiration date of December 6, 2024, at
which time the Company’s securities will be delisted from Nasdaq, irrespective of the Company’s progress or lack thereof
toward regaining compliance