Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 8

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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(c)(1)
relating to the Company’s obligation to file periodic financial reports for continued listing. The Report Letter further stated
that the Company has until July 29, 2024, to submit a plan to regain compliance with respect to the delinquent reports.

On July 24, 2024, the
Company submitted its plan to regain compliance with respect to its failure to timely file its Annual Report on Form 10-K for the year
ended December 31, 2023, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (collectively the “Forms”).
The remediation plan entails filing of the Form in advance of September 27, 2024, which would be the expiration of the 180-day exception
period pursuant to Nasdaq Listing Rule 5810(c)(2)(F)(ii) as referenced in the Report Letter. On September 4, 2024, Nasdaq notified the
Company that it has been granted an extension to regain compliance with the above referenced requirements (and the requirement to file
its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024), which extension terminated on September 27, 2024. The Company
filed the Forms and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 prior to the expiration of such deadline.

On September 4, 2024,
the Company received a deficiency letter (the “Warrant Letter”) from Nasdaq. The Warrant Letter notified the Company had failed
to maintain a minimum of $1,000,000 in aggregate market value of its outstanding warrants and is not in compliance with Nasdaq’s
Listing Rule 5452(b)(C). The Warrant Letter further stated that the Company has until October 21, 2024, to submit a plan to regain compliance
with respect to such deficiency.

 7

On October 29, 2024, the
Company received written notice from the Staff (the “November Notice”), stating that the Compliance Plan the Company submitted
in response to the September 4, 2024 deficiency letter (the “Warrant Letter”) was not accepted as the Company had provided
insufficient evidence to demonstrate that it can effect the Compliance Plan by its 36-month expiration date of December 6, 2024, at which
time the Company’s securities will be delisted from Nasdaq, irrespective of the Company’s