Company: APXIF
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065703
Chunk: 346

Company: APx Acquisition Corp. I
Filing Date: 2025-07-18
Form: F-4/A
Chunk 346
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 always be treated as a PFIC, regardless of whether it satisfied either of the qualification tests in subsequent years, subject to certain exceptions (such as upon making a “deemed sale” election). The adverse impact of the PFIC rules on a U.S. Holder that holds shares in a PFIC may generally be mitigated if the U.S. Holder makes a timely qualified electing fund (“QEF”) election or mark -to -marketelection for the PFIC’s first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) shares, or a QEF election along with an applicable purging election (collectively, “PFIC Elections”). Further detail about the PFIC Elections is provided below under “ — Company Securities.” PFIC Status of APx Because APx is a blank check company with no current active business (as determined for purposes of the PFIC rules), APx believes that it has been a PFIC since its first taxable year and that it will be a PFIC for its current taxable year. Application of the PFIC Rules to the Redemption Assuming that APx is a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U.S. Holder of Public Shares, such U.S. Holder generally will be subject to PFIC rules described below under “ — Company Securities” in connection with a Redemption. The application of such rules will depend upon whether the Redemption qualifies for sale or distribution treatment under the rules discussed above under “ Tax Consequences of Exercising Redemption Rights.” Application of PFIC Rules to the Merger Even if the exchange of Public Shares in the Merger for Company Shares qualifies for the Intended Tax Treatment, a U.S. Holder that transfers APx Securities pursuant to the Merger could nevertheless recognize gain if APx is a PFIC for any taxable year (or portion thereof) that is included in that U.S. Holder’s holding period. Section 1291(f) of the Code requires that, to the extent provided in Treasury Regulations, a U.S. Holder who disposes of stock of a PFIC recognizes gain notwithstanding any other provision of the Code. No final Treasury Regulations are currently in effect under Section 1291(f) of the Code. However, proposed Treasury Regulations under Section 1291(f) of the Code have been promulgated with a retroactive effective date. If finalized in their current form or if the IRS successfully asserts that Section 1291(f) of the Code is