Company: APXIF
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065703
Chunk: 52

Company: APx Acquisition Corp. I
Filing Date: 2025-07-18
Form: F-4/A
Chunk 52
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 the completion of the Business Combination. The Sponsor additionally agreed to waive its Redemption Rights pursuant to the Support Agreement. The Initial Shareholders did not receive any consideration in exchange for such waiver of Redemption Rights. Due to such waiver, the value of the Initial Shareholders’ investments in APx is dependent on the consummation of an initial business combination. In the event that APx does not complete an initial business combination by the Extended Date, the 3,342,188 SPAC Class A Ordinary Shares held by the Sponsor (which shares were purchased in connection with the Sponsor Alliance), which have an approximate aggregate market value of $39,571,506 as of the Record Date, and the 970,312 SPAC Class A Ordinary Shares held by the Initial Sponsor (which were purchased in connection with the IPO and which were retained in connection with the Sponsor Alliance), which have an approximate aggregate market value of $11,488,494 as of the Record Date, will expire worthless. As a result, the Initial Shareholders have an aggregate of up to $11.84 at risk as of the Record Date that depends on the completion of an initial business combination on or prior to the Extended Date. In contrast, Public Shareholders would receive approximately $12.32 per share if the Trust Account is liquidated, calculated as of the Record Date; •the Sponsor has made Working Capital Loans to APx that may be repaid upon completion of the Business Combination, without interest, or at the lender’s discretion, converted upon completion of the Business Combination into up to 1,500,000 warrants of the post -businesscombination entity at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants. On September8, 2023, APx issued an unsecured promissory note to the Sponsor, pursuant to which APx could borrow up to $500,000, related to the ongoing expenses reasonably related to the business of the Company and the consummation of the Business Combination (the “Working Capital Promissory Note”). On February9, 2024, APx issued an amended and restated promissory note (the “Amended and Restated Note”), amending and restating the Working Capital Promissory Note to increase the maximum principal amount from $500,000 to $2,000,000 and to provide that, in addition to funding working capital needs, amounts under the Amended and Restated Note may be used for the