Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 2077

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 11
Chunk 2077
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 8,950,000 Private Placement Warrants at a price of $1.00 per
warrant, generating total proceeds of $8,950,000 to the Company. 

Each Private
Placement Warrant is identical to the warrants offered in the Initial Public Offering, except there will be no redemption rights or liquidating
distributions from the trust account with respect to Private Placement Warrants when the price per share of Class A ordinary shares equals
or exceeds $18.00, which will expire worthless if the Company does not consummate a Business Combination within the Combination Period.

On September
8, 2023, as part of the Purchase Agreement between the Company’s Sponsor, APx Cap Sponsor Group I, LLC (the “Sponsor”)
transferred to Templar, LLC and its designees (the “Purchaser”), 6,936,250 private placement warrants purchased at the time
of the Company’s initial public offering (“IPO”) pursuant to a Private Placement Warrants Purchase Agreement dated December
6, 2021. The Sponsor retained 2,013,750 Private Placement Warrants. The transfer was executed as part of the Sponsor Alliance Transaction.

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares 

On May 21,
2021, the Company issued an aggregate of 4,312,500 shares of Class B ordinary shares (the “Founder Shares”) to the Sponsor
for an aggregate purchase price of $25,000. The Founder Shares include an aggregate of up to 562,500 shares subject to forfeiture by the
Sponsor to the extent that the underwriter’s over-allotment is not exercised in full or in part, so that the Sponsor will collectively
own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. As of December
31, 2024 and 2023, all of the over-allotment units had been settled simultaneously with the close of the IPO. No Class B ordinary shares
were forfeited or subject to forfeiture. 

Other than
as described above, the Sponsor has agreed not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A)
one year after the completion of a Business Combination or (B) the date on which the Company completes a liquidation, merger, capital
stock exchange or similar transaction that results in the Company’s shareholders having the right to exchange their shares of ordinary
shares for cash,