Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 428

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 428
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 operating costs of $188,108, one -timeadvisory fee income of $1,625,000, gain on settlement of debt of $117,373, interest income of $614,147 from investments in our Trust Account, gain on settlement of trade payables of $878,886 (arising from a reduction of accrued expenses due to a legal advisor) offset by interest expense of $24,442 and $572,794 of unrealized gain on fair value changes of warrants. The operating expenses were primarily due to fees to professionals such as the auditors, legal counsel and consultants, and insurance expenses. Factors That May Adversely Affect our Results of Operations Our results of operations and our ability to complete an initial Business Combination may be adversely affected by various factors that could cause economic uncertainty and volatility in the financial markets, many of which are beyond our control. Our business could be impacted by, among other things, downturns in the financial markets or in economic conditions, increases in oil prices, inflation, increases in interest rates, supply chain disruptions, declines in consumer confidence and spending, public health considerations and geopolitical instability, such as the military conflicts in Ukraine and the Middle East. We cannot at this time predict the likelihood of one or more of the above events, their duration or magnitude or the extent to which they may negatively impact our business and our ability to complete an initial business combination. Liquidity and Capital Resources As of September 30, 2024, the Company had $168 in its operating bank account, and a working capital deficit of $3,970,122, excluding accrued interest receivable as it is not available for working capital purposes. The Company’s liquidity needs up to September 30, 2024 had been satisfied through a payment from the Initial Sponsor of $25,000 (Note 6) for the Founder Shares and the remaining net proceeds from our IPO, the Private Placement Warrants and proceeds from the Promissory Notes. In addition, in order to finance transaction costs in 229 connection with a Business Combination, the Company issued an unsecured promissory note (the “Working Capital Promissory Note”) in the amount of up to $2,000,000, as defined above (Note 7). As of September 30, 2024, the Company has an outstanding principal balance nil. Based on the foregoing, management believes that the Company will not have sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of a Business Combination