Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 5

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 of March 31, 2025,
the Company had not yet commenced any operations. All activity for the period May 13, 2021 (inception) through March 31, 2025, relates
to the Company’s formation, the initial public offering (the “Initial Public Offering”) and, since the closing of the
Initial Public Offering and until March 25, 2025, the search for a prospective initial business combination, which is described below.
The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest.
The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.
The Company has selected December 31 as its fiscal year end.

The Company’s sponsor is APx Cap Sponsor
Group I, LLC (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective
on December 6, 2021. On December 9, 2021, the Company consummated the Initial Public Offering of 17,250,000 units (the “Units”
and, with respect to the shares of Class A ordinary shares included in the Units sold, the “Public Shares”), at $10.00 per
Unit, generating gross proceeds of $172,500,000, which is described in Note 3.

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the private placement (“Private Placement”) of 8,950,000
warrants (each, a “Private Placement Warrant” and collectively, the “Private Placement Warrants”) to the Sponsor,
each exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $1.00 per Private Placement Warrant, generating
gross proceeds to the Company of $8,950,000 (Note 4).

Transaction
costs amounted to $10,321,097, consisting of $3,450,000 of underwriting fees, $6,037,500 of deferred underwriting fees and $833,597 of
other offering costs.

Upon the closing of the
Initial Public Offering, an amount of $175,950,000 from the net proceeds of the sale of the Units in the Initial Public Offering and the
sale of the Private Placement Units was placed in a trust account (the “Trust Account”) located in the United States and will
be invested only in U.S. government securities,