Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 214

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 214
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 Agreement Amendment”). In
addition, at the Closing of the Transfer, the Company’s IPO underwriters waived their respective entitlement to the payment of any
Deferred Discount (as such term is defined therein) to be paid under the terms of Section 2(c) and Section 5(bb) of the Underwriting Agreement
dated December 6, 2021.

3

As part of the Sponsor Alliance, Kyle Bransfield
replaced Daniel Braatz as Chairman of the Board and Chief Executive Officer, effective upon the Transfer Closing, with Daniel Braatz remaining
as a director on the Board (the “Management Change”). In addition, in connection with the Sponsor Alliance, the Board effectuated
the following changes (the “Board Change”) as follows: Angel Losada Moreno, David Proman and Diego Dayenoff resigned as directors
and were replaced by Fara Remtulla, Daniel Mudd and Thomas P.M. Barry (collectively, the “New Directors”).

On September 8, 2023, the Company issued an unsecured
promissory note (the “Working Capital Promissory Note” or “Templar Note”) in the principal amount of $500,000
to Templar Sponsor. The Templar Note does not bear interest and the principal balance will be payable on the date on which the Company
consummates its initial business combination (the “Maturity Date”). In the event the Company consummates its initial business
combination, the Templar Sponsor has the option on the Maturity Date to convert up to $1,500,000 of the principal outstanding under the
Templar Note into that number of warrants (“Working Capital Warrants”) equal to the portion of the principal amount of the
Templar Note being converted divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any,
would be identical to the terms of the private placement warrants issued by the Company at the time of its initial public offering, as
described in the prospectus for the initial public offering dated December 6, 2021 and filed with the U.S. Securities and Exchange Commission,
including the transfer restrictions applicable thereto. The Templar Note is subject to customary events of default, the occurrence of
certain of which automatically triggers the unpaid principal balance of the Templar Note and all other sums payable with regard to the
Templar Note becoming immediately due and payable. The issuance of the Templar Note