Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 594

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 594
---

of their component securities, as applicable) will be entitled to registration rights pursuant to a registration rights agreement to be
signed prior to or on the effective date of the Initial Public Offering, requiring the Company to register such securities for resale
(in the case of the Founder Shares, only after conversion to our Class A ordinary shares). The holders of the majority of these securities
are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders
have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation
of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities
Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Advisory Agreement 

On October
17, 2022, the Company had entered into an engagement letter with EarlyBirdCapital, Inc. (“EBC”) for the provision of M&A
advisory services (the “Advisory Agreement”) which was subsequently amended on August 22, 2023. The Advisory Agreement was
amended to provide that the Company at its option, could elect to pay up to $500,000 of the transaction fee in ordinary shares of the
post-business combination company (in lieu of cash), with such issuance to occur on the six month anniversary of the closing of the business
combination, and valued based on the volume weighted average price of the post business combination company’s ordinary shares for
the ten trading days immediately preceding the six month anniversary of the closing of the business combination. 

F-20

Structuring Services Agreement

On May 18,
2023, Grupo Promotor de Desarrollo e Infraestructura, S.A. de C.V. (“Prodi Capital”) engaged the Company to act as a structuring
agent in connection with potential transaction related to a business combination. The Company will be entitled to customary fees in such
capacity, with payment due upon finalization of the advisory services. In connection with the Sponsor Alliance Transaction (see Note 1),
the Company ended the services agreement. For the years ended December 31, 2024 and 2023, the Company received nil for services rendered
in relation to this agreement. 

NOTE 8. WARRANT LIABILITY

The Company
accounted for the 17,575,000 warrants issued in connection with the Public Offering (8,625,000 Public