Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 47

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 47
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 by a third party or
prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such
waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriters of the IPO against certain
liabilities, including liabilities under the Securities Act. However, we have not asked our Sponsors to reserve for such
indemnification obligations, nor have we independently verified whether our Sponsors have sufficient funds to satisfy its indemnity
obligations and we believe that our Sponsors’ only assets are securities of our company. Therefore, we cannot assure you that
our Sponsors would be able to satisfy those obligations. As a result, if any such claims were successfully made against the Trust
Account, the funds available for our initial business combination and redemptions could be reduced to less than $12.05 per public
share. In such event, we may not be able to complete our initial business combination, and you would receive such lesser amount per
share in connection with any redemption of your public shares. None of our officers or directors will indemnify us for claims by
third parties including, without limitation, claims by vendors and prospective target businesses.

21

Our directors may decide not to enforce the indemnification obligations
of our Sponsors, resulting in a reduction in the amount of funds in the Trust Account available for distribution to our public shareholders.

In the event that the funds in the Trust Account
are reduced below the lesser of (i) $12.05 per share and (ii) the actual amount per public share held in the Trust Account as of the date
of the liquidation of the Trust Account if less than $12.05 per share due to reductions in the value of the trust assets, in each case
less taxes payable, and our Sponsors assert that they are unable to satisfy their obligations or that they have no indemnification obligations
related to a particular claim, our independent directors would determine whether to take legal action against our Sponsors to enforce
their indemnification obligations. While we currently expect that our independent directors would take legal action on our behalf against
our Sponsors to enforce their indemnification obligations to us, it is possible that our independent directors in exercising their business
judgment and subject to their fiduciary duties may choose not to do so in any particular instance if, for example, the cost of such legal
action is deemed by the independent directors to be too high