Company: APXT
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0001213900-25-118842
Chunk: 70

Company: Apex Treasury Corp
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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, and administrative costs.

Liquidity and Capital Resources

Until the consummation of the Initial Public Offering,
our only source of liquidity was an initial purchase of Class B ordinary shares, par value $0.0001 per share, by the Sponsor and
loans from the Sponsor.

Subsequent to the quarterly period covered by
this Quarterly Report on Form 10-Q, on October 29, 2025, we consummated the Initial Public Offering of 34,470,000 Units, which includes
the partial exercise by the underwriters of their over-allotment option in the amount of 4,470,000 Units, at $10.00 per Unit, generating
gross proceeds of $344,700,000 Simultaneously with the closing of the Initial Public Offering, we consummated the sale of 8,894,000 the
Private Placement Warrants at a price of $1.00 per Private Placement Warrant, in a private placement to the Sponsor and Cohen and Company
Capital Markets, a division of Cohen & Company Securities, LLC (“Cohen”), as representative of the underwriters, generating
gross proceeds of $8,894,000

 Following the Initial Public Offering, the
partial exercise of the over-allotment option, and the sale of the Private Placement Warrants, a total of $344,700,000 was placed in the
Trust Account. We incurred $21,407,663, consisting of $6,894,000 of cash underwriting fee, $13,788,000 of deferred underwriting fee, and
$725,663 of other offering costs.

For the period from June 26, 2025 (inception)
through September 30, 2025, net cash used in operating activities was $0. Net loss of $68,198 was affected by payment of formation, general,
and administrative costs through promissory note – related party of $42,344. Changes in operating assets and liabilities used $25,854
of cash from operating activities.

16

We intend to use substantially all of the funds
held in the Trust Account, including any amounts representing earnings on the Trust Account (less taxes payable, if any), to complete
our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our
Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the
target