Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 433

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 433
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 not available for working capital purposes. The Company’s liquidity needs up to December31, 2024 had been satisfied through a payment from APx Sponsor of $25,000 for the founder shares to cover certain offering expenses. In addition, in order to finance transaction costs in connection with an initial business combination, the Company issued the Amended and Restated Note to Templar Sponsor in February 2024 i.e. an unsecured promissory note (the “Working Capital Promissory Note”) in the amount of up to $2,000,000, as defined in Note 6. As of December31, 2024, there was $1,731,460 outstanding under the Amended and Restated Note. Due to the conversion feature of the note capped at $1,500,000, the principal balance of $1,500,000 is presented as Convertible note payable, with the remaining non -convertibleportion of the note balance shown under Notes Payable. Based on the foregoing, management believes that the Company will not have sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of a Business Combination or one year from this filing. As such, the Company may need to obtain alternative liquidity and capital resources to meet its needs, which may not be available to the Company. Over this time period, the Company will be using any available funds for paying existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Business Combination. 229 On August26, 2024, the Company issued a the unsecured Bioceres Note in the principal amount of $446,000 to Bioceres, an indirect shareholder of OmnigenicsAI Corp, the counterparty to the Company’s previously announced business combination. The First Bioceres Note bears interest at 20% per annum. The Company shall repay all interested accrued and the principal balance on the date on which the Company consummates its initial business combination. The First Bioceres Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Note as well as all accrued interest and all other sums payable with regard to the Note becoming immediately due and payable. On November7, 2024, the Company issued the unsecured Second Bioceres Note in the principal amount of $700,000 to