Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 2142

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 12
Chunk 2142
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 seek shareholder approval in connection therewith)
or a vote to amend the provisions of the Articles relating to shareholders’ rights of pre-Business Combination activity and
(d) that the Founder Shares shall not participate in any liquidating distributions upon winding up if a Business Combination is
not consummated. However, the Sponsor will be entitled to liquidating distributions from the Trust Account with respect to any Public
Shares purchased during or after the Initial Public Offering if the Company fails to complete its Business Combination.

If the Company is
unable to complete a Business Combination by December 9, 2025, 48 months from the closing of the IPO, assuming we further
extend the period by up to twelve additional one-month periods (the “Combination Period”), the Company will
(i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than
ten business days thereafter, redeem the public shares, at a  per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released
to us to pay taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding
public shares, which redemption will completely extinguish public shareholder’s rights as shareholders (including the right to
receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of the remaining shareholders and the Company’s board of directors, proceed
to commence a voluntary liquidation and thereby a formal dissolution of the Company, subject in each case to its obligations under
Cayman Islands law to provide for claims of creditors and the requirements of applicable law. The underwriters have agreed to waive
their rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business
Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account
that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per
share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit
$10.00.

The Sponsor has agreed
that it will be liable to the Company if and to the extent any claims by a third party