Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 421

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 421
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 in the Trust Account and 5,799,120 public shares remained issued and outstanding.

On September 15, 2023, October 19, 2023 and November
13, 2023, we deposited $125,000 into the Trust Account in order to effect three one-month extensions of the termination date, from September
9, 2023 to December 9, 2023.

Sponsor Alliance; Change in Management and Board; Working Capital
Loan 

On September 8, 2023, the Company entered into
a purchase agreement (the “Purchase Agreement”) with the Company’s initial sponsor, APx Sponsor and Templar Sponsor,
whereby APx Sponsor transferred to the Templar Sponsor 3,342,188 of the Company’s Founder Shares and 6,936,250 Private Placement
Warrants purchased at the time of the Company’s IPO. The APx Sponsor retained 970,312 Founder Shares and 2,013,750 Private Placement
Warrants. The transfer of Founder Shares and Placement Warrants to the Templar Sponsor pursuant to the Purchase Agreement is referred
to as the “Transfer.” The Transfer, all other transactions contemplated by the agreements executed in connection with the
Transfer (including the transactions contemplated therein) and the Management Change and Board Change (each as defined below) are referred
to as the “Sponsor Alliance.”

In connection with the Sponsor Alliance, the Company,
its officers and directors, the APx Sponsor and the Templar Sponsor entered into additional agreements whereby: (a) the Templar Sponsor
signed a joinder agreement (the “Joinder Agreement”) to become a party to the Letter Agreement (the “Letter Agreement”)
and the Registration Rights Agreement (“Registration Rights Agreement”), both dated December 6, 2021 and entered into in connection
with the IPO, among the Company, the APX Sponsor and certain other shareholders of the Company; and (b) the Letter Agreement was amended
by the parties thereto to allow for the Transfer with respect to the Founder Shares (the “Letter Agreement Amendment”). In
addition, at the Closing of the Transfer, the Company’s IPO underwriters waived their respective entitlement to the payment of any
Deferred Discount (as such term is defined therein) to be paid under the terms of Section 2(c) and Section 5(bb) of the Underwriting Agreement
dated December 6, 2021.

3

As part of the Sponsor Alliance, Kyle Bransfield
replaced Daniel