Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1605

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 1605
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 on March
31, 2025.

In order to complete the delisting process with
respect to our units and warrants, we expect that Nasdaq will file a Form 25-NSE in respect of such securities with the SEC, and the delisting
will become effective ten days after such Form 25-NSE is filed. Although we expect that we will be notified by Nasdaq prior to the filing
of such Form 25-NSE, as well as prior to the release of a press release by Nasdaq announcing the delisting event, we are not at this time
able to determine when such Form 25-NSE will be filed or when the delisting of our units and warrants from Nasdaq will be complete. However,
the filing of the Form 25-NSE by Nasdaq and the subsequent delisting of our units and warrants may occur at any time without prior notice.

Despite the delisting of our securities from Nasdaq,
we intend to proceed with our efforts to consummate our initial Business Combination. However, Nasdaq approval of OmnigenicsAI’s
initial listing application with respect to the Business Combination is a condition to such Business Combination, and there can be no
guarantee that Nasdaq will approve such initial listing application, which may delay, or ultimately prevent the consummation of the proposed
Business Combination.

Following the suspension of trading on Nasdaq,
our Class A ordinary shares are quoted on the Pink Open Market of the OTC under the symbol “APXIF”.

The Company will remain
a reporting entity under the Securities Exchange Act of 1934, as amended, with respect to continued disclosure of financial and operational
information.

First and Second Extension 

On February 27, 2023, the Company held an extraordinary
general meeting (the “February 2023 EGM”) and its shareholders approved an amendment to our amended and restated memorandum
and articles of association (as amended, the “Articles of Association”) and to the investment management trust agreement
dated as of September 7, 2021 (as amended, the “Trust Agreement”) to change the payment required to extend the Combination
Period by two three-month periods (the “February Extension Amendment Amendment”). In connection with such vote, the holders
of 10,693,417 public shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for an aggregate
redemption amount of $111,346,281. Following such redemptions, approximately $68,271