Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 264

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 264
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 and Theo would jointly provide a backstop arrangement in an amount of up to $10,000,000. On May 24, 2023, the board of directors of the Parent met to review the Heritas LOI, and negotiations followed discussing details of the backstop amount and other details of the transaction. In that meeting, the board of directors also decided on the need to hire advisors for the transaction, for financial, accounting, and legal purposes. On June 28, 2023, representatives of MultiplAI and OmnigenicsAI had a call with Mr. Trucco, the Parent’s board member and representative of OmnigenicsAI’s shareholders, to explain the synergies of a potential business combination between both companies and the need to execute a deal in conjunction with OmnigenicsAI’s de -SPACtransaction. 123 He also shared his vision for the Combined Company and his experience running a public company. Following the meeting, OmnigenicsAI’s and MultiplAI’s management started discussing the details of an LOI. OmnigenicsAI started the drafting process and circulated a first draft to MultiplAI on July 20, 2023. On July 1, 2023, the Sponsor informed OmnigenicsAI that Mr.Bransfield had identified a potential SPAC target, through the purchase of which he intended to pursue the transaction with OmnigenicsAI and MultiplAI, and they would be drafting a purchase agreement to acquire 100% of shares of such SPAC. On July 24, while on a business development trip to Mexico, Mr. Calmet met with APx management to present the OmnigenicsAI opportunity, company vision and strategic plan, and explore a potential business combination between OmnigenicsAI and APx. One point of interest between both parties was that OmnigenicsAI’s plan was to expand to Mexico, APx’s principal place of business. In addition, APx valued that OmnigenicsAI was not a startup per se but a spin -offfrom two parent companies: Bioceres S.A., an established agricultural solutions company, and CIBIC laboratories, a biotechnology in the clinical diagnostics industry based in Argentina, as described above. On July 3, 2023, the Sponsor, the Parent and Theo entered into the Heritas LOI. The execution version was substantially similar to the previously circulated draft, provided that it contemplated Sponsor act as the sponsor for the transaction for the reasons described above. Parent and Theo are both