Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 918

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 918
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 results in the Company’s shareholders having the right to exchange their shares of ordinary
shares for cash, securities or other property. Notwithstanding the foregoing, if the last sale price of the Company’s Class A ordinary
shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like)
for any 20 trading days within any 30-trading day period commencing at least 120 days after the Business Combination, the Founder Shares
will be released from the lock-up. 

F-18

On September
8, 2023, as part of the Purchase Agreement between the Company’s Sponsor, APx Cap Sponsor Group I, LLC (the “Sponsor”)
transferred to Templar LLC and its designees (the “Purchaser”), 3,342,188 of the Company’s class B ordinary shares,
$0.0001 par value (the “Founder Shares”) purchased at the time of the Company’s initial public offering (“IPO”)
pursuant to a Private Placement Warrants Purchase Agreement, dated December 6, 2021. The Sponsor retained 970,312 Founder Shares. The
transfer was executed as part of the Sponsor Alliance Transaction. 

Related Party Loans  / Promissory Note - Related Party

In
order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor, an affiliate of the
Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the
“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes would either be
repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of
notes may be converted upon consummation of a Business Combination into warrants at a price of $1.00 per warrant. The warrants will
be identical to the Private Placement Warrants. In the event that a Business Combination does not close, the Company may use a
portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account
would be used to repay the Working Capital Loans. See the description of the First Promissory
Note, the Second Promissory Note, the Working Capital Promissory Note, and the Amended and Restated Note under Note 6 –
Promiss