Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 502

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 502
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year (and, in the case of the start-up exception, potentially not until after the two taxable years following our current taxable year).
Moreover, if we determine we are a PFIC for any taxable year, we will endeavor to provide to a U.S. Holder a PFIC Annual Information
Statement in order to enable the U.S. Holder to make and maintain a “qualified electing fund” election, but there can be
no assurance that we will timely provide such required information, and such election would be unavailable with respect to our warrants
in all cases. We urge U.S. investors to consult their tax advisers regarding the possible application of the PFIC rules.

41

It is possible that a majority of our directors and officers
will live outside the United States and all of our assets will be located outside the United States; therefore, investors may not be
able to enforce federal securities laws or their other legal rights. 

It is possible that after our initial business
combination, a majority of our directors and officers will reside outside of the United States and all of our assets will be located
outside of the United States. As a result, it may be difficult, or in some cases not possible, for investors in the United States to
enforce their legal rights, to effect service of process upon all of our directors or officers or to enforce judgments of United States
courts predicated upon civil liabilities and criminal penalties on our directors and officers under United States laws.

We are exposed to certain risks that are particular to investing
in emerging and other markets. 

In seeking significant investment exposure in
Latin American countries, we are subject to political, economic, legal, operational and other risks that are inherent to operating and
investing in these countries. These risks range from difficulties in settling transactions in emerging markets due to possible nationalization,
expropriation, price controls and other restrictive governmental actions. We may also face the risk that exchange controls or similar
restrictions imposed by foreign governmental authorities may restrict our ability to convert local currency received or held by us in
their countries into U.S. dollars or other currencies, or to take those dollars or other currencies out of those countries.

We may be subject to an excise tax under the Inflation Reduction
Act of 2022 in connection with redemptions of our ordinary shares. 

The Inflation Reduction Act of 2022, enacted
in August 2022, imposes a 1% excise tax on the fair market value of stock repurchased by “