Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 265

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 265
---
 look like from a strategic point of view. On May 18, 2023, Union Acquisition Group shared a first draft of a letter of intent with OmnigenicsAI that detailed the terms and conditions of an acquisition of OmnigenicsAI by Templar LLC, a Tennessee limited liability company controlled by Mr. Bransfield (the “Sponsor”), who had the mandate to purchase a SPAC for the transaction (the “Heritas LOI”). Upon Mr. Bransfield’s relocation to Nashville, TN, he determined that Sponsor was the appropriate vehicle to act as the Sponsor for the present transaction. Union Acquisition Group did not receive any compensation for its services prior to the involvement of Sponsor. The Heritas LOI draft contained the following material provisions: •Sponsor (through a special purpose acquisition company) would acquire 100% of the outstanding equity and equity equivalents of the target (including options, warrants or other securities that have the right to acquire or convert into equity securities of the target), or all the target’s business, in exchange for a fully diluted pre -moneytotal enterprise value target of the target of $300 million, as to be agreed by the parties in definitive documentation for such transaction, •a lock -upperiod applicable to significant shareholders of six to twelve months, •a post -closingboard of directors comprised of five directors, four to be nominated by the target, and one to be nominated by Sponsor, and •Sponsor and Theo would jointly provide a backstop arrangement in an amount of up to $10,000,000. On May 24, 2023, the board of directors of the Parent met to review the Heritas LOI, and negotiations followed discussing details of the backstop amount and other details of the transaction. In that meeting, the board of directors also decided on the need to hire advisors for the transaction, for financial, accounting, and legal purposes. On June 28, 2023, representatives of MultiplAI and OmnigenicsAI had a call with Mr. Trucco, the Parent’s board member and representative of OmnigenicsAI’s shareholders, to explain the synergies of a potential business combination between both companies and the need to execute a deal in conjunction with OmnigenicsAI’s de -SPACtransaction. He also shared his vision for the Combined Company and his experience running a public company. Following the meeting, OmnigenicsAI’s and MultiplAI’s management started discussing the details of an LOI. OmnigenicsAI started the drafting