Company: APXIF
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065703
Chunk: 276

Company: APx Acquisition Corp. I
Filing Date: 2025-07-18
Form: F-4/A
Chunk 276
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 this call, the parties discussed the possibility of a business combination transaction that would include OmnigenicsAI merging with a SPAC and acquiring MultiplAI with the use of proceeds of the de -SPACtransaction. The parties also discussed potential ideas as to what the Combined Company would look like from a strategic point of view. On May 18, 2023, Union Acquisition Group shared a first draft of a letter of intent with OmnigenicsAI that detailed the terms and conditions of an acquisition of OmnigenicsAI by Templar LLC, a Tennessee limited liability company controlled by Mr. Bransfield (the “Sponsor”), who had the mandate to purchase a SPAC for the transaction (the “Heritas LOI”). Upon Mr. Bransfield’s relocation to Nashville, TN, he determined that Sponsor was the appropriate vehicle to act as the Sponsor for the present transaction. Union Acquisition Group did not receive any compensation for its services prior to the involvement of Sponsor. The Heritas LOI draft contained the following material provisions: •a target enterprise valuation of $300,000,000 for OmnigenicsAI (which was proposed by OmnigenicsAI, and accepted by Mr.Bransfield following an analysis of a wide variety of comparable companies, as described more fully below, taking into account OmnigenicAI’s relatively lower cash burn rates, its unique product offering, its total addressable market and its ability to commercialize and scale within the geographics in which it operates; no fairness opinion or other third party analysis was performed, and no detailed projections were prepared in arriving at such figure — see “ Risk Factors — Risks Related to APx— APx did not obtain a fairness opinion in connection with the Business Combination, and consequently, you do not have assurance from an independent source that the consideration APx is paying for the Company is fair to APx from a financial point of view. Additionally, the valuation of the Company was proposed, and accepted, based on a number of subjective, qualitative factors, and no formal quantitative valuation exercise was performed”); •Sponsor (through a special purpose acquisition company) would acquire 100% of the outstanding equity and equity equivalents of the target (including options, warrants or other securities that have the right to acquire or convert into equity securities of the target), or all the target’s business, in exchange for a fully diluted pre -moneytotal enterprise value target of the target of $300 million, as to be agreed by the parties in definitive documentation for such transaction; •a lock