Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 432

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 432
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 of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, 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. Net Income Per Ordinary Share We comply with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” We have two classes of shares, which are referred to as SPAC Class A Ordinary Shares and SPAC Class B Ordinary Shares. Income and losses are shared pro rata between the two classes of shares. Net income per ordinary share is calculated by dividing the net income by the weighted average shares of ordinary shares outstanding for the respective period. 231 The calculation of diluted net income does not consider the effect of the warrants underlying the Units sold in the IPO (including the consummation of the Over -allotment) and the Private Placement Warrants to purchase an aggregate of 17,575,000 SPAC Class A Ordinary Shares in the calculation of diluted income per share, because their inclusion would be anti -dilutiveunder the treasury stock method. Accretion associated with the redeemable SPAC Class A Ordinary Shares is excluded from earnings per share as the redemption value approximates fair value. Off-Balance Sheet Arrangements As of September 30, 2024, we did not have any off -balancesheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S -Kand did not have any commitments or contractual obligations. Recent Accounting Standards In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020 -06, Debt — Debt with Conversion and Other Options (Subtopic 470 -20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815 -40) (“ASU 2020 -06”) to simplify accounting for certain financial instruments. ASU 2020 -06eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. AS