Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 103

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 other property. Notwithstanding the foregoing, if the last sale price of the Company’s Class A
ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 120 days after the Business Combination, the
Founder Shares will be released from the lock-up.

On September 8,
2023, as part of the Purchase Agreement between the Company’s Sponsor, APx Cap Sponsor Group I, LLC (the “Sponsor”)
transferred to Templar LLC and its designees (the “Purchaser”), 3,342,188 of the Company’s class B ordinary shares,
$0.0001 par value (the “Founder Shares”) purchased at the time of the Company’s initial public offering (“IPO”)
pursuant to a Private Placement Warrants Purchase Agreement, dated December 6, 2021. The Sponsor retained 970,312 Found Shares.
The transfer was executed as part of the Sponsor Alliance Transaction. 

Related Party Loans

In order to finance transaction
costs in connection with a Business Combination, the Company’s Sponsor, an affiliate of the Sponsor, or the Company’s officers
and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). Such
Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business Combination,
without interest, or, at the lender’s discretion, up to $1,500,000 of notes may be converted upon consummation of a Business Combination
into warrants at a price of $1.00 per warrant. The warrants will be identical to the Private Placement Warrants. In the event that a Business
Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans,
but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. See the description of the First Promissory
Note, the Second Promissory Note, the Working Capital Promissory Note, and the Amended and Restated Note under Note 6 – Promissory
Notes Payable for activity under this arrangement.

NOTE 6. PROMISSORY NOTE PAYABLE

On February 28,
2023, the Company issued an unsecured promiss