Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 104

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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ory note (the “First Promissory Note”) in an amount of $875,000 in order to economically
facilitate their ability to effect the extension of the termination date. An amount of $125,000 was used in order to economically facilitate
the extension payment to extend the period from September 9, 2023 to October 9, 2023. The First Promissory Note is payable in
full on the earlier of (a) consummation of an initial business combination or (b) December 31, 2023 (the “First Due
Date”). On the First Due Date, the Company shall pay to the payee under the First Promissory Note (the “Payee”) the
outstanding principal amount of the First Promissory Note in immediately available funds and deliver to the Payee, as interest-in-kind,
875,000 of newly issued warrants. The terms of the warrants are identical to the Private Placement Warrants the Company issued in connection
with the Initial Public Offering. The Payee shall be entitled to certain registration rights with respect to the warrants and the shares
issuable upon exercise of the warrants.

 21

On May 26, 2023,
the Company issued a second unsecured promissory note (the “Second Promissory Note” and, together with the First Promissory
Note, the “Promissory Notes”) in an amount of $750,000 in order to economically facilitate the ability to effect the extension
of the termination date, from June 9, 2023 to September 9, 2023 (the “Second Extension”). The Second Promissory
Note is payable in full on the earlier of (a) consummation of an initial business combination or (b) December 31, 2023
(the “Second Due Date”). On the Second Due Date, the Company shall pay to the Payee under the Second Promissory Note the outstanding
principal amount of the Second Promissory Note in immediately available funds and deliver to the Payee, as interest-in-kind, 750,000 of
newly issued warrants. The terms of the warrants are identical to the Private Placement Warrants the Company issued in connection with
the Initial Public Offering. The Payee shall be entitled to certain registration rights with respect to the warrants and the shares issuable
upon exercise of the warrants.

On August 18, 2023,
the Company paid in full the outstanding