Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 248

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 248
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 of $1,400,000, we may continue to fund such excess with additional loans to increase the funds available for our
operation outside the Trust Account. The amount held in the Trust Account will not be impacted as a result of such additional expected
loans that we may incur. As we are required to seek additional capital, we would need to borrow funds from our Sponsors, management team,
their affiliates or other third parties to operate or may be forced to liquidate. For example, in February 2023 and May 2023, we issued
the First Promissory Note and Second Promissory Note, respectively. In addition, in September 2023, we issued the Working Capital Promissory
Note, which was amended and restated in February 2024. However, neither Templar Sponsor, members of our management team nor any of their
affiliates or third parties is under any obligation to advance funds to us in such circumstances. Any such advances would be repaid only
from funds held outside the Trust Account or from funds released to us upon completion of our initial business combination. Up to $1,500,000
of certain loans may be convertible into private placement warrants of the post-business combination entity at a price of $1.00 per warrant
at the option of the lender. Such warrants would be identical to the private placement warrants. In addition, we may need to engage in
private negotiations with third parties, our Sponsors, management, or its affiliates to secure loans that may not be in our favor in order
to complete our initial business combination. Third parties may not be willing to loan such funds and provide a waiver against any and
all rights to seek access to funds in our Trust Account. If we are unable to complete our initial business combination because we do not
have sufficient funds available to us, we will be forced to cease operations and liquidate the Trust Account. Consequently, our public
shareholders may only receive an estimated $12.05 per share, or possibly less, on our redemption of our public shares, and our warrants
will expire worthless.

20

Subsequent to our completion of our initial business combination,
we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative
effect on our financial condition, results of operations and the price of our securities, which could cause you to lose some or all of
your investment. 

Even if we conduct due diligence on a target business