Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 283

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 283
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respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity. To the
extent any of such amendments would be deemed to fundamentally change the nature of the securities offered through this registration
statement, we would register, or seek an exemption from registration for, the affected securities. For example, on December 4, 2024,
we amended our Articles to extend the time to complete the initial business combination from December 9, 2024 to December 9, 2025 (i.e.,
for up to a period ending 48 months after the consummation of the IPO). Therefore, our public shareholders had the opportunity to redeem
their shares upon the approval of the amendment to our Articles. We cannot assure you that we will not seek to amend our charter or governing
instruments or extend the time to consummate an initial business combination in order to effectuate our initial business combination.

The provisions of our Articles that relate to our pre-business
combination activity (and corresponding provisions of the agreement governing the release of funds from our Trust Account) may be amended
with the approval of holders of not less than two-thirds (or such higher threshold as specified in the company’s amended and restated
articles of association) of our ordinary shares who attend and vote at a general meeting of the company (or 65% of our ordinary shares
who attend and vote at a general meeting of the company with respect to amendments to the trust agreement governing the release of funds
from our Trust Account), which is a lower amendment threshold than that of some other special purpose acquisition companies. It may be
easier for us, therefore, to amend our Articles to facilitate the completion of an initial business combination that some of our shareholders
may not support. 

Our Articles provide that any of its provisions
related to pre-business combination activity (including the requirement to deposit proceeds of the IPO and the private placement of warrants
into the Trust Account and not release such amounts except in specified circumstances, and to provide redemption rights to public shareholders
as described herein) may be amended if approved by a special resolution under Cayman Islands law which requires the affirmative vote
of at least two-thirds of the shareholders who attend and vote at a general meeting of the company, and corresponding provisions of the
trust agreement governing the release of funds from our Trust Account may be amended if approved by holders of 65% of our ordinary shares
who attend and vote at a general meeting of the company. Our initial shareholders, who will collectively beneficially own