Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 19

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 19
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 Trust Agreement to extend the Termination Date to December 9, 2025. In connection with the December 2024 EGM, the holders of 5,077,568 Public Shares properly exercised their right to redeem their Public Shares (and did not withdraw their redemption) for an aggregate redemption amount of $60,856,059.42. Following such redemptions, $6,233,015.29 remained in the Trust Account and 520,056 Public Shares remained issued and outstanding. Such remaining amount in the Trust Account will be distributed either to (i) all holders of Public Shares upon our liquidation or (ii) holders of Public Shares who elect to have their Public Shares redeemed in connection with the consummation of our initial business combination. As of the date hereof, approximately $1,875,000 1(plus accrued interest paid on untimely deposits into the Trust Account) of indebtedness under the Amended and Restated Note and the BC Promissory Notes (each as defined below) incurred in connection with Extension Payments remains outstanding. On December10, 2024, APx received a letter from the Listing Qualifications Department of Nasdaq stating that, pursuant to Nasdaq Listing Rule IM -5101-2, Nasdaq’s staff had determined that (i) APx’s securities will be delisted from Nasdaq, (ii) trading of SPAC Class A Ordinary Shares, Public Warrants, and SPAC Units would be suspended at the opening of business on December17, 2024 and (iii) a Form 25 -NSEwill be filed with the SEC, which will remove APx’s securities from listing and registration on Nasdaq. Under Rule IM -5101-2, a special purpose acquisition company must complete one or more business combinations within 36months of the effectiveness of its initial public offering registration statement. Since APx failed to complete our initial business combination by December6, 2024, Nasdaq’s staff concluded that APx did not comply with Rule IM -5101-2and that APx’s securities are now subject to delisting. As a result, trading in APx’s securities on Nasdaq was effectively suspended with the open of the market on December17, 2024, and APx’s securities are currently eligible to trade only on the over -the-countermarkets system. On March21, 2025, Nasdaq filed a Form 25 -NSEin respect of APx’s Class A ordinary shares with the SEC