Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 439

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 439
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, Mr. Bransfield, as borrower, entered into the Sponsor Loan Agreement with Bioceres Group PLC, an indirect shareholder of Parent, as the lender, and UG Holdings LLC, an affiliate of Mr. Bransfield, as the pledgor. Mr. Bransfield, as borrower, also entered into a pledge and security agreement, with Bioceres Group PLC, as the lender, and UG Holdings LLC, as the pledgor, pursuant to which, in order to secure his obligations under the Sponsor Loan Agreement, he pledged 100,000 ordinary shares of Moolec Science SA as security. The Sponsor Loan Agreement was amended on September 6, 2023 to increase the credit line from $250,000 to $275,000; on October 12, 2023 to increase the credit line to $400,000; on November 9, 2023 to increase the credit line to $1,000,000, and on March 25, 2024 to increase the credit line to $2,000,000. On November 9, 2023, the rights and obligations of Mr. Bransfield under the Sponsor Loan Agreement were transferred to the Sponsor and the Sponsor assumed such rights and obligations. On March 25, 2024, the parties entered into a fourth amendment to the Sponsor 235 Loan Agreement, pursuant to which certain commercial conditions were amended, including the placement of a legend on 700,000 SPAC Ordinary Shares owned by the Sponsor. The Sponsor Loan accrues interest at 11% per annum and matures either on the first, second or third anniversary of the closing of the Business Combination, according to certain thresholds related to the volume weighted average price of Company Shares on such dates. As of December 28, 2024, $2,000,000 has been drawn under the Sponsor Loan Agreement, which amounts have been lent onward from the Sponsor to APx under the Amended and Restated Note. Bioceres Promissory Note On August 26, 2024, APx issued an unsecured promissory note in the principal amount of $446,000 to Bioceres LLC, our indirect shareholder. The note accrues interest at 20% per annum. APx shall repay all interested accrued and the principal balance on the date on which it consummates its initial business combination. The note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the note as well as