Company: APXT
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0001213900-25-118842
Chunk: 33

Company: Apex Treasury Corp
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 We incurred $21,407,663, consisting of $6,894,000 of cash underwriting fee, $13,788,000 of deferred underwriting fee, and
$725,663 of other offering costs.

For the period from June 26, 2025 (inception)
through September 30, 2025, net cash used in operating activities was $0. Net loss of $68,198 was affected by payment of formation, general,
and administrative costs through promissory note – related party of $42,344. Changes in operating assets and liabilities used $25,854
of cash from operating activities.

16

We intend to use substantially all of the funds
held in the Trust Account, including any amounts representing earnings on the Trust Account (less taxes payable, if any), to complete
our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our
Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the
target business or businesses, make other acquisitions and pursue our growth strategies.

We intend to use the funds held outside the Trust
Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a business combination, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a business combination, we would repay such
loaned amounts. In the event that a business combination does not close, we may use a portion of the working capital held outside the
Trust Account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,500,000 of
such loans may be convertible into warrants, at a price of $1.00 per warrant at the option of the lender, upon consummation of the initial
Business Combination. The warrants would be identical to the Private Placement Warrants.

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimate of the costs