Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1085

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1085
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 may have in the future as a result of, or arising out of, any services provided to us and will not
seek recourse against the Trust Account for any reason whatsoever. Accordingly, any indemnification provided will only be able to be
satisfied by us if (i) we have sufficient funds outside of the Trust Account or (ii) we consummate an initial business combination.

Our indemnification obligations may discourage
shareholders from bringing a lawsuit against our officers or directors for breach of their fiduciary duty. These provisions also may
have the effect of reducing the likelihood of derivative litigation against our officers and directors, even though such an action, if
successful, might otherwise benefit us and our shareholders. Furthermore, a shareholder’s investment may be adversely affected
to the extent we pay the costs of settlement and damage awards against our officers and directors pursuant to these indemnification provisions.

We believe that these provisions, the insurance
and the indemnity agreements are necessary to attract and retain talented and experienced officers and directors.

Section 16(a) Beneficial Ownership Reporting Compliance 

Section 16(a) of the Exchange Act requires our
officers, directors and persons who own more than 10% of Class A Ordinary Shares to file reports of ownership and changes in ownership
with the SEC. Officers, directors and persons who beneficially own more than 10% of our Class A ordinary shares are required by regulation
to furnish us with copies of all Section 16(a) forms they file. To the best of our knowledge (based upon a review of such forms), we
believe that during the year ended December 31, 2024 there were no delinquent filers with the following exceptions: (i) each of APX Sponsor,
David Proman and Angel Moreno failed to timely file a Form 4 with respect to the transactions contemplated by the Purchase Agreement
and (ii) Kyle Bransfield failed to (i) timely file his Form 3 with respect to the transactions contemplated by the Purchase Agreement
and (ii) timely file a Form 4 relating to the conversion of Class B ordinary shares into Class A ordinary shares.

ITEM 11. EXECUTIVE COMPENSATION. 

None of our officers or directors have received
any cash compensation for services rendered to us. Commencing on the date that our securities are first listed on Nasdaq through the
earlier of consummation of our initial business combination and our liquidation, we were required to pay APX Sponsor or an affiliate
thereof