Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 466

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 466
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 to adverse changes in general economic, industry and competitive conditions
                                            and adverse changes in government regulation; and

●limitations
                                            on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                            debt service requirements, execution of our strategy and other purposes and other disadvantages
                                            compared to our competitors who have less debt.

We may issue our shares to investors in connection with our
initial business combination at a price which is less than the prevailing market price of our shares at that time. 

In connection with our initial business combination,
we may issue shares to investors in private placement transactions (so-called PIPE transactions) at a price of $10.00 per share or which
approximates the per-share amounts in our Trust Account at such time, which is generally approximately $10.00. The purpose of such issuances
will be to enable us to provide sufficient liquidity to the post-business combination entity. The price of the shares we issue may therefore
be less, and potentially significantly less, than the market price for our shares at such time.

We may only be able to complete one business combination with
the proceeds of the IPO and the sale of the private placement warrants, which will cause us to be solely dependent on a single business
which may have a limited number of products or services. This lack of diversification may negatively impact our operations and profitability.

Of the net proceeds of the IPO and the sale of
the private placement warrants, only $120 in cash were available to us as of December 31, 2024 outside the Trust Account to fund our
working capital requirements. We may effectuate our initial business combination with a single target business or multiple target businesses
simultaneously or within a short period of time. However, we may not be able to effectuate our initial business combination with more
than one target business because of various factors, including the existence of complex accounting issues and the requirement that we
prepare and file pro forma financial statements with the SEC that present operating results and the financial condition of several target
businesses as if they had been operated on a combined basis. By completing our initial business combination with only a single entity,
our lack of diversification may subject us to numerous economic, competitive and regulatory developments. Further, we would not be able
to diversify our operations or benefit from the possible spreading of risks or offsetting of losses, unlike other entities which may
have the resources to complete several business combinations in different industries or different areas of a single industry. Accordingly,
the prospects for