Company: APXIF
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065703
Chunk: 695

Company: APx Acquisition Corp. I
Filing Date: 2025-07-18
Form: F-4/A
Chunk 695
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 further details on these DRSS, please refer to Note 21. Fair Value of Deferred Shares The fair value of the stock granted to the CEO has been assessed at US$3.3935 per share. The fair value at the grant date was independently determined using an adjusted version of the Black -Scholesmodel, incorporating a Monte Carlo simulation model. This model takes into account various factors including: •Exercise price and the term of the option. •Impact of dilution where applicable. •Share price at grant date and expected price volatility of the underlying shares. •Expected dividend yield. •Risk -freeinterest rate for the duration of the option. •Correlations and volatilities of comparable peer group companies Key Assumptions for Fair Value Calculation The primary inputs used in determining the fair value of the deferred shares are categorized as level 3 inputs and are based on the following: •Fair Value per Share of Heritas Ltd.: Derived from a discounted cash flow (DCF) analysis. The Group estimates revenue growth, operating cost ratios, and changes in working capital. To account for the risks associated with an early -stagecompany, a start -uprisk premium has been added to the Company’s weighted average cost of capital (WACC). •Liquidity Event Date: Estimated based on projections of when a liquidity event, such as an initial public offering (IPO), is expected to occur. •Share Volatility: Estimated using market data from comparable companies within the same industry or of similar size. The Company has considered the following sensitivity analysis of the fair value of the share -basedincentives that was recorded in the year ended June30, 2024, evaluating the following changes in the key assumptions (and leaving all other variables constant): (a)a decrease of 100% in the share -basedincentives that was recorded in the year ended June30, 2024, if the closing of the BCA does not occur; (b)a decrease of 2% in the share -basedincentives that was recorded in the year ended June30, 2024, in the event that the BCA closes one month later than the expected date; (c)a decrease of 41% in the share -basedincentives that was recorded in the year ended June30, 2024, if the discount rate used to discount the flows (31,83%) increases by 20% (discount rate of 38,20%), and an increase of 79% in the shared -basedin