Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 209

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 209
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 in the Trust Account to the Public Shareholders, APx files a bankruptcy or winding -uppetition or an involuntary bankruptcy petition is filed against APx that is not dismissed, the proceeds held in the Trust Account could be subject to applicable bankruptcy or insolvency law, and may be included in APx’s bankruptcy estate and subject to the claims of third parties with priority over the claims of APx Shareholders. To the extent any bankruptcy claims deplete the Trust Account, the per -shareamount that would otherwise be received by APx Shareholders in connection with APx’s liquidation may be reduced. If APx is deemed to be an investment company under the Investment Company Act, APx may be required to institute burdensome compliance requirements and its activities may be restricted, which may make it difficult for APx to complete its initial business combination or force APx to abandon its efforts to complete an initial business combination, including the Business Combination. If APx is deemed to be an investment company under the Investment Company Act, its activities may be restricted, including: •restrictions on the nature of its investments; and •restrictions on the issuance of securities, each of which may make it difficult for APx to complete the Business Combination. In addition, APx may have imposed upon itself burdensome requirements, including: •registration as an investment company; •adoption of a specific form of corporate structure; and •reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations. In order not to be regulated as an investment company under the Investment Company Act, unless it can qualify for 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 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