Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 184

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 184
---
 the taxable year of such non -U.S. corporation. If the Company Group includes one or more U.S. subsidiaries, certain of the Company’s non -U.S. subsidiaries could be treated as CFCs regardless of whether the Company is treated as a CFC. If the Company or any of its non -U.S. subsidiaries is a CFC, “United States shareholders” under applicable tax rules will be subject to adverse income inclusion and reporting requirements with respect to such CFC. No assurance can be provided that the Company will assist holders in determining whether it or any of its non -U.S. subsidiaries is treated as a CFC or whether any holder is treated as a United States shareholder with respect to any of such CFCs or furnish to any holder information that may be necessary to comply with reporting and tax payment obligations with respect to such CFCs. The IRS may determine that the Company should be treated as a domestic corporation for U.S. federal income tax purposes, and adverse tax consequences could result to the Company and its shareholders if the IRS were to successfully challenge such determination. Due to transactions impacting the ownership structure of Heritas Argentina that have occurred within the past two years, both as part of and independent from the Business Combination (including the Restructuring), it is possible that the Company could be treated as a U.S. corporation for U.S. federal income tax purposes. Section 7874 of the Code provides that, under certain circumstances, a non -U.S. corporation will be treated as a U.S. “domestic” corporation for U.S. federal income tax purposes if it is treated as acquiring, directly or indirectly, substantially all the properties of a U.S. corporation and certain other conditions are met. In connection with the contribution of Heritas Argentina to the Company, the parties intended to cause Heritas Argentina to file an election with the IRS to classify Heritas Argentina as a disregarded entity for U.S. federal tax purposes, effective as of the date of such contribution. The foregoing contribution and election, taken together, were intended to qualify as a reorganization consisting of mere change in identity, form or place of organization of Heritas Argentina pursuant to Section 368(a)(1)(F) of the Code. The intended election to classify Heritas Argentina as a disregarded entity effective as of the date of contribution of Hertas Argentina to the Company was not timely filed with the IRS. Heritas Argentina has submitted a late -filedelection to be classified as a disregarded entity with the IRS