Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 27

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 the Initial Public Offering based on a relative
fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities were expensed as incurred in
the condensed consolidated statements of operations. Offering costs associated with the Class A ordinary shares issued were charged
to temporary equity and warrants upon the completion of the Initial Public Offering. Offering costs amounting to $10,321,097 were charged
to shareholders’ equity upon the completion of the Initial Public Offering and $465,166 were expensed as of the date of the Initial
Public Offering.

Recent Accounting Pronouncements

In November 2023, the
FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07, which is
applicable to entities with a single reportable segment, will primarily require enhanced disclosures about significant segment expenses
and enhanced disclosures in interim periods. The guidance in ASU 2023-07 will be applied retrospectively and is effective for annual reporting
periods in fiscal years beginning after December 15, 2023, and interim reporting periods in fiscal years beginning after December 31,
2024, with early adoption permitted. The Company adopted this guidance as of January 1, 2024.  The adoption resulted in disclosure
changes only.

In December 2023, the
FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 is intended
to enhance the decision usefulness of income tax disclosures and requires the disclosure of various disaggregated information, including
an entity’s effective tax rate reconciliation as well as additional information on taxes paid. This ASU is effective on a prospective
basis for annual periods beginning after December 15, 2024, with early adoption allowed. The Company is currently assessing the impact,
if any, ASU 2023-09 would have on its disclosures.

Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company’s financial statements.

 19

Class A Ordinary Shares Subject to
Possible Redemption

The Company accounts
for its ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities
from Equity.” Ordinary shares subject to mandatory redemption (if any