Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 26

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 26
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(i) increase the likelihood of obtaining shareholder approval of the business combination, including the Proposed Business Combination,
(ii) incentivize voting such warrants on any matters submitted to the warrant holders for approval in connection with our initial business
combination or (iii) satisfy a closing condition in an agreement with a target that requires us to have a minimum net worth or a certain
amount of cash at the closing of our initial business combination, where it appears that such requirement would otherwise not be met.

11

Redemption Rights for Public Shareholders upon Completion of
Our Initial Business Combination 

We will provide our public shareholders with
the opportunity to redeem all or a portion of their Class A ordinary shares upon the completion of our initial business combination
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two
business days prior to the consummation of the initial business combination, including interest earned on the funds held in the
Trust Account and not previously released to us to pay our taxes, divided by the number of then outstanding public shares, subject
to the limitations and on the conditions described herein. The amount in the Trust Account is currently approximately $12.05 per
public share. The redemption rights will include the requirement that a beneficial holder must identify itself in order to validly
redeem its shares. There will be no redemption rights upon the completion of our initial business combination with respect to our
warrants. Our Sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to
waive their redemption rights with respect to their Founder Shares and any public shares they may hold in connection with the
completion of our initial business combination.

Competition 

In identifying, evaluating and selecting a target
business for our initial business combination, we may encounter competition from other entities having a business objective similar to
ours, including other special purpose acquisition companies, private equity groups and leveraged buyout funds, public companies and operating
businesses seeking strategic acquisitions. Many of these entities are well established and have extensive experience identifying and effecting
business combinations directly or through affiliates. Moreover, many of these competitors possess similar or greater financial, technical,
human and other resources than us. Our ability to acquire larger target businesses will be limited by our available financial resources.
This inherent limitation gives others an advantage in pursuing the acquisition of a target business. Furthermore, our obligation to pay
cash in connection with our public shareholders who exercise their redemption rights may reduce the