Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 189

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 189
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 our securities from Nasdaq will be complete. The delisting of our securities may delay, or ultimately prevent, the consummation of the Business Combination. While we continue to work towards its completion, the Business Combination was not consummated as of December 6, 2024, which, as further discussed below, was the deadline Nasdaq had provided us to consummate the Business Combination or face potential delisting from the Nasdaq exchange as a result of non -compliancewith certain of Nasdaq’s continued listing requirements. On September 4, 2024, we received written notice from the Listing Qualifications Department of Nasdaq indicating that since the aggregate market value of our outstanding warrants was less than $1 million, we were no longer in compliance with the Nasdaq continued listing criteria set forth in Listing Rule 5452(b)(C) (the “Rule”), which required us to maintain an aggregate market value of our outstanding warrants of at least $1 million (the “Notice”). We subsequently submitted a plan to regain compliance with the Rule (the “Compliance Plan”). On October 29, 2024, we received written notice from Nasdaq’s staff, stating that the Compliance Plan was not accepted as we had provided insufficient evidence to demonstrate that we could effect the Compliance Plan by its 36 -monthexpiration date of December 6, 2024, at which time our securities would be delisted from Nasdaq in 75 accordance with IM -5101-2, irrespective of our progress or lack thereof toward regaining compliance with the Rule, and that the Nasdaq’s staff had determined to initiate procedures to delist our warrants (and, as a result of the warrants’ inclusion therein, the SPAC Units) from Nasdaq due to our non -compliance. Nasdaq suspended the trading of the Public Warrants and the SPAC Units on November 5, 2024. On December 10, 2024, we received a letter from the Listing Qualifications Department of Nasdaq stating that, pursuant to Nasdaq Listing Rule IM -5101-2, Nasdaq’s staff had determined that (i) our securities will be delisted from Nasdaq, (ii) trading of our SPAC Class A Ordinary Shares, Public Warrants, and SPAC Units would be suspended at the opening of business on December 17, 2024 and (iii) a Form 25 -NSEwill be filed with the SEC, which will remove our securities from listing and registration on Nasdaq.