Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 485

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 485
---
, since the
IPO, been held only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds investing solely
in U.S. government treasury obligations and meeting certain conditions under Rule 2a-7 under the Investment Company Act. However, to
mitigate the risk of us being deemed to be an unregistered investment company (including under the subjective test of Section 3(a)(1)(A)
of the Investment Company Act) and thus subject to regulation under the Investment Company Act, we may, at any time, on or prior to the
24-month anniversary of the effective date of the IPO Registration Statement, instruct the trustee with respect to the Trust Account
to liquidate the U.S. government treasury obligations or money market funds held in the Trust Account and thereafter to hold all funds
in the Trust Account in an interest-bearing demand deposit account held at a bank until the earlier of consummation of an initial business
combination or liquidation of the Company. Following such liquidation of the securities held in the Trust Account, we would likely receive
minimal interest, if any, on the funds held in the Trust Account. However, interest previously earned on the funds held in the Trust
Account still may be released to us to pay our taxes, if any. As a result, any decision to liquidate the securities held in the Trust
Account and thereafter to hold all funds in the Trust Account in an interest-bearing demand deposit account held at a bank would 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.

In addition, even prior to the 24-month anniversary
of the effective date of the IPO Registration Statement, we may be deemed to be an investment company. The longer that the funds in the
Trust Account are held in short-term U.S. government treasury obligations or in money market funds invested exclusively in such securities,
even prior to the 24-month anniversary, the greater the risk that we may be considered an unregistered investment company, in which case
we may be required to liquidate the Company. Accordingly, we may determine, in our discretion, to liquidate the securities held in the
Trust Account at any time, even prior to the 24-month anniversary, and instead hold all funds in the Trust Account in an interest-bearing
demand deposit account held at a