Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 40

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 of the Exchange Shares have been made in reliance
upon the exemption from the registration requirements of the Securities Act.

The Company may issue
additional ordinary shares or preferred share to complete its Business Combination or under an employee incentive plan after completion
of its Business Combination.

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NOTE 10. CLASS A ORDINARY SHARES SUBJECT
TO POSSIBLE REDEMPTION

The Company accounts
for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification
(“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory
redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including
ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence
of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares
are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that
are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, Class A
ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’
equity section of the Company’s balance sheet.

The Company recognizes
changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption
value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by
charges against additional paid in capital and accumulated deficit.

At March 31, 2025 and
December 31, 2024, the Class A ordinary shares subject to possible redemption reflected in the balance sheet is reconciled in the
following table:

    Class A ordinary shares subject to possible redemption at December 31, 2024  
    $6,268,825 
  
    Remeasurement of carrying value to redemption value 
     65,522 

    Class A ordinary shares subject to possible redemption at March 31, 2025 
    $6,334,347 

NOTE 11. FAIR VALUE MEASUREMENTS

The fair value of the
Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received
in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between