Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 486

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 486
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 bank, which would further reduce the dollar amount the public shareholders would receive upon any redemption
or liquidation of the Company. As of the date of this proxy statement, we have not yet made any such determination to liquidate the securities
held in the Trust Account.

You will not be permitted to exercise your warrants unless we
register and qualify the underlying Class A ordinary shares or certain exemptions are available. 

If the issuance of the Class A ordinary shares
upon exercise of the warrants is not registered, qualified or exempt from registration or qualification under the Securities Act and
applicable state securities laws, holders of warrants will not be entitled to exercise such warrants and such warrants may have no value
and expire worthless. In such event, holders who acquired their warrants as part of a purchase of units will have paid the full unit
purchase price solely for the Class A ordinary shares included in the units.

Under the terms of the warrant agreement, we
have agreed that, as soon as practicable, but in no event later than 15 business days, after the closing of our initial business combination,
we will use our commercially reasonable efforts to file with the SEC a registration statement covering the registration under the Securities
Act of the Class A ordinary shares issuable upon exercise of the warrants and thereafter will use our commercially reasonable efforts
to cause the same to become effective within 60 business days following our initial business combination and to maintain a current prospectus
relating to the Class A ordinary shares issuable upon exercise of the warrants until the expiration or redemption of the warrants in
accordance with the provisions of the warrant agreement. We cannot assure you that we will be able to do so if, for example, any facts
or events arise which represent a fundamental change in the information set forth in the registration statement or prospectus, the financial
statements contained or incorporated by reference therein are not current or correct or the SEC issues a stop order.

34

If the Class A ordinary shares issuable upon
exercise of the warrants are not registered under the Securities Act, under the terms of the warrant agreement, holders of warrants who
seek to exercise their warrants will not be permitted to do so for cash and, instead, will be required to do so on a cashless basis,
in which case the number of Class A ordinary shares that the holders of warrants will receive upon cashless exercise will be based on
a formula subject to a maximum number of shares equal to 0.361 Class A ordinary shares per warrant (subject to adjustment).

In no event