Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 201

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 201
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 an exclusion, a company must ensure that it is engaged primarily in a business other than investing, reinvesting or trading of securities and that its activities do not include investing, reinvesting, owning, holding or trading “investment securities” constituting more than 40% of its assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. The SEC recently provided guidance that the determination of whether a special purpose acquisition company, like APx, is an “investment company” under the Investment Company Act is a facts and circumstances determination requiring individualized analysis and depends on a variety of factors, including a SPAC’s duration, asset composition, business purpose and activities, and “is a question of facts and circumstances” requiring 82 individualized analysis. When applying these factors to itself, APx does not believe that its principal activities will subject itself to the Investment Company Act. To this end, APx was formed for the purpose of completing an initial business combination with one or more businesses. Since its inception, APx’s business has been and will continue to be focused on identifying and completing an initial business combination, and thereafter, operating the post -transactionbusiness or assets for the long term. Further, APx does not plan to buy businesses or assets with a view to resale or profit from their resale and APx does not plan to buy unrelated businesses or assets or to be a passive investor. In addition, the proceeds held in the Trust Account are invested in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a -7promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations. While, to mitigate the potential risk that APx might be deemed to be an investment company for purposes of the Investment Company Act, APx may instruct the trustee to liquidate such investments and move the proceeds to an interest -bearingdemand deposit account, APx has not yet done so. Pursuant to the Investment Management Trust Agreement, the trustee is not permitted to invest in other securities or assets than those described above. By restricting the investment of the proceeds in this manner, and by focusing our directors’ and officers’ time toward, and operating its business for the purpose of, acquiring and growing businesses for the long term (rather than buying and selling businesses in the manner of a merchant bank or private equity fund or investing