Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1534

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1534
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 shares that feature redemption rights that are either
within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s
control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholder’s equity. The Company’s
ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the
occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as
temporary equity, outside of the shareholder’s equity section of the Company’s balance sheet. 

NOTE 3. INITIAL PUBLIC OFFERING

On December
9, 2021, the Company sold 17,250,000 Units at $10.00 per Unit, generating gross proceeds of $172.5 million, and incurring offering costs
of $10,321,097, consisting of $3,450,000 of underwriting fees, $6,037,500 of deferred underwriting fees and $833,897 of other offering
costs. 

Each Unit
consists of one share of the Company’s Class A ordinary shares, par value $0.0001 per share, and one-half of one redeemable warrant
(“Public Warrant”). Each whole Public Warrant will entitle the holder to purchase one share of Class A ordinary shares at
an exercise price of $11.50 per whole share (Note 8). 

ln September
2022, the Company reversed the $6,037,500 of deferred underwriting fees as the underwriters resigned from their role in the Business Combination
and thereby waived their right of the deferred underwriting commissions. 

NOTE 4. PRIVATE PLACEMENT

Simultaneously
with the closing of the Initial Public Offering, the Sponsor has purchased 8,950,000 Private Placement Warrants at a price of $1.00 per
warrant, generating total proceeds of $8,950,000 to the Company. 

Each Private
Placement Warrant is identical to the warrants offered in the Initial Public Offering, except there will be no redemption rights or liquidating
distributions from the trust account with respect to Private Placement Warrants when the price per share of Class A ordinary shares equals
or exceeds $18.00, which will expire worthless if the Company does not consummate a Business Combination within the Combination Period.

On September
8, 2023, as part of the Purchase Agreement between the Company’s Sponsor, APx Cap Sponsor