Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 269

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 269
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x Units were sold at a price of $10.00 per unit, generating gross proceeds to APx of $172,500,000. Substantially concurrently with the closing of the IPO, APx completed the private sale of an aggregate of 8,950,000 Private Placement Warrants to the Sponsor at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to APx of $8,950,000. A total of $175,950,000, comprised of $172,500,000 of the proceeds from the IPO, including $6,037,500 of the underwriters’ deferred discount, and $3,450,000 of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S. -basedtrust account at JPMorgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee. Prior to the closing of the IPO, neither APx, nor anyone on its behalf, had selected any business combination target or initiated any substantive discussions, directly or indirectly, with respect to identifying any business combination target. After the IPO, APx’s officers and directors commenced an active search for prospective businesses or assets to acquire in a business combination transaction. Below is a summary of negotiations with three acquisition candidates (other than the Company): • Hospital Services Company: Initiation occurred on June30, 2022, when APx approached a hospital services company to gauge interest in a prospective business combination. Following this outreach, a non -disclosureagreement was executed with the company on July12, 2022. In the ensuing week of July, APx’s leadership, including then Chief Executive Officer Dan Braatz, Chief Financial Officer Xavier Martinez and director Alfredo Vara, conducted a videoconference with the counterpart’s management team. This initial meeting served to introduce APx’s executive team and acquire a deeper understanding of the potential target. Subsequent to this dialogue, APx engaged in comprehensive due diligence, entailing industry analysis and examination of the company’s materials. After multiple internal deliberations and discussions with the target, APx forwarded a draft letter of intent on August30, 2022. The material terms of the letter of intent were as follows: •the transaction valued the target at $288 million to $332 million, •the terms included an earnout provision of 4.33 million shares, contingent upon achieving an EBITDAR target of $35 million by 2024, and a six -