Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 282

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 282
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 of Companies of the Cayman Islands, changing its name to OmnigenicsAI Corp. On March19, 2024, Greenberg circulated to Linklaters a draft of the Business Combination Agreement, reflecting the name change to OmnigenicsAI Corp and cleanup changes. On March20, 2024, Linklaters and Greenberg exchanged drafts of the Business Combination Agreement. Key changes included: (i) a revision of the Trust Account statement, reflecting a balance of $63,214,027.45; (ii) an extension of the submission deadlines from April30, 2024, to May15, 2024, for the interim financial statements related to Heritas Argentina and MultiplAI, and the pro forma information concerning the Company, to be delivered to SPAC. On March 21, 2024, Greenberg circulated to Linklaters a proposed execution version of the Business Combination Agreement. On March 25, 2024, the Business Combination Agreement was executed by the parties and, on March 26, 2024, the Business Combination was publicly announced. In May 2024, a few critical risks emerged while preparing for the integration with MultiplAI. Notably, there was a significant discrepancy between the operational focus of the companies and the financial needs required to execute on both. OmnigenicsAI, focused on the Latin American market, and MultiplAI, being pre -revenueand primarily focused on the U.S. market, faced alignment challenges. This mismatch in strategic focus led to a recalibration of the combined entity’s projected capital expenditures, as integration would require establishing a larger footprint in the 128 United States, significantly increasing operating costs and limiting our ability to benefit from the cost efficiencies available in Latin America. Additionally, the U.S. regulatory landscape presents unique challenges, with both federal and state -levelregulations, which would demand substantial capital and resources to achieve compliance, surpassing initial projections and presenting a substantial financial risk for the Combined Company. For example, on May 6, 2024, the FDA issued a final rule on Laboratory Developed Tests (LDTs), that impacted the regulatory landscape for these tests in the US for the coming years. As MultiplAI’s test is classified as an LDT, this new regulatory environment introduced different compliance challenges, operational risks, and additional resources than were originally envisioned, requiring additional financial obligations to address. As such, the combined entity’s projected capital and operational expenditures ultimately surpassed initial expectations, presenting substantial financial risk. Due