Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 84

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 extraordinary general meeting (the “February 2023 EGM”) and its shareholders approved an amendment to
its amended and restated memorandum and articles of association (as amended, the “Articles of Association”) and to the investment
management trust agreement dated as of September 7, 2021 (as amended, the “Trust Agreement”) to change the payment required
to extend the Combination Period by two three-month periods (the “February Extension Amendment Amendment”). In connection
with such vote, the holders of 10,693,417 public shares properly exercised their right to redeem their shares (and did not withdraw their
redemption) for an aggregate redemption amount of $111,346,281. Following such redemptions, approximately $68,271,081 remained in the
trust account and 6,556,583 public shares remained issued and outstanding. Such remaining amount in the trust account will be distributed
either to (i) all holders of public shares upon our liquidation or (ii) holders of public shares who elect to have their shares redeemed
in connection with the consummation of our initial business combination. Accordingly, on March 1, 2023, the Company deposited $750,000
into the Trust Account in order to effect the extension of the termination date, from March 9, 2023 to June 9, 2023 (the “First
Extension”). On June 22, 2023, the Company deposited an additional $750,000 into the Trust Account for a subsequent extension of
the termination date, from June 9, 2023 to September 9, 2023 (the “Second Extension”), that the Company may need to complete
an initial business combination.

On
September 7, 2023, the Company held an extraordinary general meeting (the “September 2023 EGM”) and its shareholders approved
an amendment to its Articles and to the Trust Agreement to extend the time to complete a business combination (the “Termination
Date”) up to three (3) times for an additional one (1) month each time (each, an “Extension”) from September 9, 2023
to December 9, 2023, by depositing the lesser of $0.025 per public share or $125,000 (each such payment, an “Extension Payment”)
for each one-month extension into the Company’s trust account (the “Trust Account”). In connection with the September
2023 EGM, the holders