Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 187

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 187
---
 two years, both as part of and independent from the Business Combination (including the Restructuring), it is possible that the Company could be treated as a U.S. corporation for U.S. federal income tax purposes. Section 7874 of the Code provides that, under certain circumstances, a non -U.S. corporation will be treated as a U.S. “domestic” corporation for U.S. federal income tax purposes if it is treated as acquiring, directly or indirectly, substantially all the properties of a U.S. corporation and certain other conditions are met. In connection with the contribution of Heritas Argentina to the Company, the parties intended to cause Heritas Argentina to file an election with the IRS to classify Heritas Argentina as a disregarded entity for U.S. federal tax purposes, effective as of the date of such contribution. The foregoing contribution and election, taken together, were intended to qualify as a reorganization consisting of mere change in identity, form or place of organization of Heritas Argentina pursuant to Section 368(a)(1)(F) of the Code. The intended election to classify Heritas Argentina as a disregarded entity effective as of the date of contribution of Hertas Argentina to the Company was not timely filed with the IRS. Heritas Argentina has submitted a late -filedelection to be classified as a disregarded entity with the IRS and has requested that the IRS accept such election with an effective date that is retroactive to the date on which Heritas 74 Argentina was contributed to the Company. The Company expects that the IRS will accept the late -filedclassification election with an effective date as of the date on which Heritas Argentina was contributed to the Company. However, if the IRS does not accept the late -filedclassification election with the requested effective date, then the contribution of Heritas Argentina to the Company may fail to qualify as a reorganization under Section 368(a)(1)(F) of the Code, and such contribution, when considered in conjunction with the changes to the ownership of Heritas Argentina, may result in the Company being classified as a U.S. corporation under rules applicable pursuant to Code Section 7874. The Company does not believe it should be treated as a U.S. corporation for U.S. federal income tax purposes. However, the relevant law is not entirely clear, is subject to detailed but relatively new regulations (the application of which is uncertain in various respects, and whose interaction with general principles of U.S. tax law remains untested) and is subject to various other