Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 134

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 134
---
 Share.” We have two classes of shares, which are referred
to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of
shares. Net income per ordinary share is calculated by dividing the net income by the weighted average shares of ordinary shares outstanding
for the respective period.

The calculation of diluted
net income does not consider the effect of the warrants underlying the Units sold in the IPO (including the consummation of the Over-allotment)
and the Private Placement Warrants to purchase an aggregate of 17,575,000 Class A ordinary shares in the calculation of diluted income
per share, because their inclusion would be anti-dilutive under the treasury stock method. Accretion associated with the redeemable Class A
ordinary shares is excluded from earnings per share as the redemption value approximates fair value.

 40

Off-Balance Sheet Arrangements

As of March 31, 2025
we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments
or contractual obligations.

Recent Accounting Pronouncements

In December 2023, the
FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 is intended
to enhance the decision usefulness of income tax disclosures and requires the disclosure of various disaggregated information, including
an entity’s effective tax rate reconciliation as well as additional information on taxes paid. This ASU is effective on a prospective
basis for annual periods beginning after December 15, 2024, with early adoption allowed. The Company is currently assessing the impact,
if any, ASU 2023-09 would have on its disclosures.

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07,
which is applicable to entities with a single reportable segment, will primarily require enhanced disclosures about significant segment
expenses and enhanced disclosures in interim periods. The guidance in ASU 2023-07 will be applied retrospectively and is effective for
annual reporting periods in fiscal years beginning after December 15, 2023 and interim reporting periods in fiscal years beginning after
December 31,