Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 953

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 953
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3 to December 9, 2024
by depositing the lesser of $0.025 per public share or $125,000 for each one-month extension into the Trust Account. In connection with
the December 2023 EGM, the holders of 201,496 public shares properly exercised their right to redeem their shares (and did not withdraw
their redemption) for an aggregate redemption amount of $2,246,585. Following such redemptions, $62,410,856 remained in the Trust Account
and 5,597,624 public shares remained issued and outstanding. Such remaining amount in the Trust Account will be distributed either to
(i) all holders of public shares upon our liquidation or (ii) holders of public shares who elect to have their shares redeemed in connection
with the consummation of our initial business combination.

On December 20, 2023, January 24, 2024, February 12, 2024, March 12,
2024, April 8, 2024 and May 28, 2024, we deposited $125,000 each month into the Trust Account in order to effect six one-month extensions
of the termination date to June 9, 2024. On September 27, 2024, the Company deposited $375,000 (plus accrued interest) into
the Trust Account representing $125,000 for each of the months of June 2024, July 2024 and August 2024, in order to extend the termination
date to September 9, 2024. On November 8, 2024, the Company deposited a lumpsum of $375,000 for back payments to the Trust
representing $125,000 for each of the months of September 2024, October 2024, and November 2024 to extend the termination date to
December 9, 2024.

Class B Conversion 

On October 2, 2023, in accordance with the provisions of our Articles,
Templar Sponsor exercised its rights to convert an aggregate of 4,312,500 Class B ordinary shares into an equal number of Class A Ordinary
Shares, on a one-for-one basis (the “Class B Conversion”). As a result of the Class B Conversion, no Class B ordinary shares
remain outstanding.

Promissory Notes

On August 26, 2024, the Company issued the
unsecured First Bioceres Note in the principal