Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 78

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 78
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 warrant agreements. We cannot assure you that we will not seek to amend our Articles or governing instruments
in a manner that will make it easier for us to complete our initial business combination that our shareholders may not support. 

In order to effectuate a business combination,
special purpose acquisition companies have, in the recent past, amended various provisions of their charters and governing instruments,
including their warrant agreements. For example, special purpose acquisition companies have amended the definition of business combination,
increased redemption thresholds and extended the time to consummate an initial business combination and, with respect to their warrants,
amended their warrant agreements to require the warrants to be exchanged for cash and/or other securities. Amending our Articles requires
a special resolution under Cayman Islands law, which requires the affirmative vote of at least two-thirds of the shareholders who attend
and vote at a general meeting of the company, and amending our warrant agreement will require a vote of holders of at least 65% of the
public warrants and, solely with respect to any amendment to the terms of the private placement warrants or any provision of the warrant
agreement with respect to the private placement warrants, at least 65% of the then outstanding private placement warrants (except for
provisions of the warrant agreement enabling amendments without shareholder or warrant holder approval that are necessary in the good
faith determination of our board of directors (taking into account then existing market precedents) to allow for the warrants to be classified
as equity in our financial statements (provided that any modifications or amendments that would increase the warrant price or shorten
the exercise period shall require the approval of the warrant holders in accordance with the warrant agreement)). In addition, our Articles
require us to provide our public shareholders with the opportunity to redeem their public shares for cash if we propose an amendment
to our Articles (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination
or to redeem 100% of our public shares if we do not complete an initial business combination within the Combination Period or (B) with
respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity. To the
extent any of such amendments would be deemed to fundamentally change the nature of the securities offered through this registration
statement, we would register, or seek an exemption from registration for, the affected securities. For example, on December 4, 2024,
we amended our Articles to extend the time to complete the initial business combination from December 9,