Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 281

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 281
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 ask for more cash consideration to offset the
negative impact on the market price of our Class A ordinary shares that is expected when the ordinary shares owned by our initial shareholders,
holders of our private placement warrants or holders of our working capital loans or their respective permitted transferees are registered.

We may issue additional Class A ordinary shares or preferred
shares to complete our initial business combination or under an employee incentive plan after completion of our initial business combination.
We may also issue Class A ordinary shares upon the conversion of the founder shares at a ratio greater than one-to-one at the time of
our initial business combination as a result of the anti-dilution provisions contained therein. Any such issuances would dilute the interest
of our shareholders and likely present other risks. 

Our Articles authorizes the issuance of up to
200,000,000 Class A ordinary shares, par value $0.0001 per share, 20,000,000 Class B ordinary shares, par value $0.0001 per share, and
1,000,000 preferred shares, par value $0.0001 per share. There are 199,479,944 and 20,000,000 authorized but unissued Class A ordinary
shares and Class B ordinary shares, respectively, available for issuance which amount does not take into account shares reserved for
issuance upon exercise of outstanding warrants. There are no preferred shares issued and outstanding.

35

We may issue a substantial number of additional
Class A ordinary shares or preferred shares to complete our initial business combination or under an employee incentive plan after completion
of our initial business combination. However, our Articles provide, among other things, that prior to our initial business combination,
we may not issue additional shares that would entitle the holders thereof to (i) receive funds from the Trust Account or (ii) vote on
any initial business combination. These provisions of our Articles, like all provisions of our Articles, may be amended with a shareholder
vote. The issuance of additional ordinary or preferred shares:

●may
                                            significantly dilute the equity interest of investors in the IPO;

●may
                                            subordinate the rights of holders of Class A ordinary shares if preferred shares are issued
                                            with rights senior to those afforded our Class A ordinary shares;

●could
                                            cause a change in control if a substantial number of Class A ordinary shares are issued,
                                            which may affect, among other things, our ability to use our net operating loss carry forwards,
                                            if any, and could result in the resignation