Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 899

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 899
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 rata interest earned
on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to
be distributed to shareholders who redeem their shares will not be reduced by the deferred underwriting commissions the Company will
pay to the underwriters. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s
warrants. These Class A ordinary shares will be recorded at a redemption value and classified as temporary equity upon the completion
of the Initial Public Offering, in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing
Liabilities from Equity.” 

If a shareholder vote is not required and the
Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Amended and
Restated Memorandum and Articles of Association, offer such redemption pursuant to the tender offer rules of the Securities and Exchange
Commission (the “SEC”), and file tender offer documents containing substantially the same information as would be included
in a proxy statement with the SEC prior to completing a Business Combination. 

The Company’s Sponsor has agreed (a) to
vote its Founder Shares (Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of a Business Combination,
(b) not to propose an amendment to the Company’s Amended and Restated Memorandum and Articles of Association with respect to the
Company’s pre-Business Combination activities prior to the closing of a Business Combination unless the Company provides dissenting
public shareholders with the opportunity to redeem their Public Shares in conjunction with any such amendment; (c) not to redeem any
shares (including the Founder Shares) into the right to receive cash from the Trust Account in connection with a shareholder vote to
approve a Business Combination (or to sell any shares in a tender offer in connection with a Business Combination if the Company does
not seek shareholder approval in connection therewith) or a vote to amend the provisions of the Amended and Restated Memorandum and Articles
of Association relating to shareholders’ rights of pre-Business Combination activity and (d) that the Founder Shares shall not
participate in any liquidating distributions upon winding up if a Business Combination is not consummated. However, the Sponsor will
be entitled to liquidating distributions from the Trust Account with respect to any Public Shares purchased during or after the Initial
Public Offering if the Company fails to complete its Business Combination. 

F-10