Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 375

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 375
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, focusing on security aspects and compliance with data protection standards. To achieve this, we are transitioning from an outsourced operating development scheme to an in -houseteam capable of interacting more directly and efficiently with sectors and stakeholders. This process has already begun with an analysis of our current infrastructure and the beginning of our redefinition to ensure better security practices and improved scalability possibilities. Improvements in Pipelines and Bioinformatic Processes Associated with Rewell One of our organizational objectives is the launch of products related to prevention in Mexico. This is a project that spans various areas of the organization. In the case of our data science and bioinformatics team, our focus is on enhancing and customizing the pipelines and services associated with the management of genetic and microbiome data to support activities in other countries. This not only entails making web apps and application programming interface available in other countries but also involves intrinsic issues related to biological considerations that must be addressed for a product of this nature to be deployed. Accordingly, we are working on creating a microbiome database for the Mexican population. Additionally, we will utilize ancestry information from this country with the aim of providing polygenic risk scores in that market. Decision to Terminate the MultiplAI Share Purchase Agreement We initially entered into a triple merger agreement with MultiplAI and APx, aimed at unifying resources and expertise to bolster our presence in the AI -enabledgenomics space. This merger was strategically envisioned to aid us in becoming a public company, thereby facilitating future M&A deals and focusing on an initial target post -acquisition. Previously, on January 23, 2024, and further amended on March 13, 2024, the Parent, MultiplAI, and the MultiplAI Shareholders had entered into the MultiplAI Share Purchase Agreement, relating to the sale and purchase of all ordinary shares of MultiplAI. While MultiplAI’s technology demonstrated potential, a few critical risks emerged while preparing for the integration. Notably, there was a significant discrepancy between the operational focus of the companies and the financial needs required to execute on both. MultiplAI, being pre -revenueand primarily focused on the U.S. market, contrasted with our established operations and market presence in Latin America. The combined entity’s projected capital expenditures and operational expenditures surpassed initial projections, presenting a substantial financial risk for the Combined Company. In addition to this, on May 6, 2024, the FDA issued a final rule on Laboratory Developed Tests (LDTs), that impacted the regulatory landscape for these