Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 453

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 453
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 may acquire during
or after the IPO), a conflict of interest may arise in determining whether a particular business combination target is appropriate for
our initial business combination. 

On May 21, 2021, we issued to APx Sponsor an aggregate
of 4,312,500 founder shares in exchange for a capital contribution of $25,000, or approximately $0.006 per share. The purchase price of
the founder shares was determined by dividing the amount of cash contributed to the company by the number of founder shares issued. The
number of founder shares outstanding was determined based on the expectation that the total size of the IPO would be a maximum of 17,250,000
units if the underwriters’ over-allotment option is exercised in full, and therefore that such founder shares would represent 20%
of the outstanding shares after the IPO. The founder shares will be worthless if we do not complete an initial business combination. In
addition, APx Sponsor purchased an aggregate of 8,950,000 private placement warrants, each exercisable to purchase one Class A ordinary
share at $11.50 per share, at a price of $1.00 per warrant, or $8,950,000 in the aggregate, in a private placement that closed simultaneously
with the closing of the IPO. The private placement warrants will also be worthless if we do not complete our initial business combination.
In connection with the Sponsor Alliance, certain founder shares and private placement warrants were transferred to the Templar Sponsor.
The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target
business combination, completing an initial business combination and influencing the operation of the business following the initial business
combination. This risk may become more acute as the Combination Period nears its end, which is the deadline for our completion of an initial
business combination.

The nominal purchase price paid by our Sponsors for the founder
shares may significantly dilute the implied value of your public shares in the event we consummate an initial business combination, and
our Sponsors are likely to make a substantial profit on its investment in us in the event we consummate an initial business combination,
even if the business combination causes the trading price of our ordinary shares to decline materially. 

While we offered our units at an offering price
of $10.00 per unit and the amount in the Trust Account is anticipated to be $12.05 per public share, implying an initial value of $12.05
per public