Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 190

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 190
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 decreased ability to issue additional securities or obtain additional financing in the future, which may adversely impact our efforts to consummate a Business Combination and otherwise continue its operations. As a result, an investor would likely find it more difficult to trade, or to obtain accurate price quotations for, our securities following our delisting from Nasdaq. Delisting would likely also reduce the visibility, liquidity and value of our securities, including as a result of reduced institutional investor interest in us, and may increase the volatility of our securities. Delisting could also cause a loss of confidence of potential business combination partners, which could further harm our ability to consummate a business combination. Additionally, following our delisting from Nasdaq, because we will no longer be required to comply with Nasdaq’s continued listing standards, our investors will not enjoy the protections afforded to investors by listed companies’ compliance with such standards. An additional potential negative consequence of delisting from the Nasdaq is that such delisting would likely lead to our securities losing their status as “covered securities.” The National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which are referred to as “covered securities.” Because our securities are currently listed on Nasdaq (although trading is currently suspended, as further described herein), the SPAC Units, SPAC Ordinary Shares and Public Warrants are considered covered securities under such statute. Although states are preempted from regulating the sale of our securities, this federal statute does allow the states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank check companies in their respective states. If we were no longer listed on Nasdaq, our securities would not be covered securities and we therefore may become subject to such additional regulation in each state resulting from the loss of “covered securities” status, including in connection with a business combination. A further negative consequence of our delisting from Nasdaq will result from the fact that the closing of the Business Combination is conditioned on the listing of the post -combinationcompany on Nasdaq. Although we believe that,