Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 561

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 561
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 The Company will generate
non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected
December 31 as its fiscal year end. 

The Company’s sponsor is APx Cap Sponsor
Group I, LLC (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective
on December 6, 2021. On December 9, 2021, the Company consummated the Initial Public Offering of 17,250,000 units (the “Units”
and, with respect to the shares of Class A ordinary shares included in the Units sold, the “Public Shares”), at $10.00 per
Unit, generating gross proceeds of $172,500,000, which is described in Note 3. 

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the private placement (“Private Placement”) of 8,950,000 warrants (each, a “Private
Placement Warrant” and collectively, the “Private Placement Warrants”) to the Sponsor, each exercisable to purchase
one Class A ordinary share at $11.50 per share, at a price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company
of $8,950,000 (Note 4). 

Transaction costs amounted to $10,321,097, consisting
of $3,450,000 of underwriting fees, $6,037,500 of deferred underwriting fees and $833,597 of other offering costs. In addition, at December
9, 2021, cash of $1,295,936 was held outside of the Trust Account (as defined below) and is available for working capital purposes. 

On October 17, 2022, the Company entered into
an engagement letter with EarlyBirdCapital, Inc. (“EBC”) for the provision of M&A advisory services (the “Advisory
Agreement”) and an engagement letter with EBC for placement agency services (the “Placement Agency Agreement”). Pursuant
to the Advisory Agreement, the Company would pay to EBC a fee of $2,000,000 in cash upon the closing of a business combination or similar
transaction (the “Transaction Fee”). Pursuant to the Placement Agency Agreement, the Company would pay to EBC upon the closing
of a business combination or similar transaction a cash placement fee (the “Placement Agent Fee”) equal to (a