Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 83

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 and registration on Nasdaq. Under Rule IM-5101-2, a special purpose acquisition
company must complete one or more business combinations within 36 months of the effectiveness of its initial public offering registration
statement. Since APx failed to complete our initial business combination by December 6, 2024, Nasdaq’s staff concluded that APx
did not comply with Rule IM-5101-2 and that APx’s securities are now subject to delisting.

As a result, trading in
APx’s securities on Nasdaq was effectively suspended with the open of the market on December 17, 2024, and APx’s securities
are currently eligible to trade only on the over-the-counter markets system.

On March 21, 2025, Nasdaq
filed a Form 25-NSE in respect of APx’s Class A ordinary shares with the SEC, and the delisting of APx’s Class A ordinary
shares became effective on March 31, 2025. On May 8, 2025, Nasdaq filed a Form 25-NSE in respect of APx’s units and warrants with
the SEC, and the delisting of APx’s units and warrants will become effective on May 18, 2025. Following the delisting on Nasdaq,
APx’s Class A ordinary shares are quoted on the Pink Open Market of the OTC under the symbol “APXIF”. We will remain
a reporting entity under the Securities Exchange Act of 1934, as amended, with respect to continued disclosure of financial and operational
information.

Despite the delisting
of our securities from Nasdaq, the Company intends to proceed with its efforts to consummate our initial Business Combination. However,
Nasdaq approval of OmnigenicsAI’s initial listing application with respect to the Business Combination is a condition to such Business
Combination, and there can be no guarantee that Nasdaq will approve such initial listing application, which may delay, or ultimately prevent
the consummation of the proposed Business Combination.

Following the suspension
of trading on Nasdaq, the Company’s Class A ordinary shares are quoted on the Pink Open Market of the OTC under the symbol “APXIF”.

The Company will remain
a reporting entity under the Securities Exchange Act of 1934, as amended, with respect to continued disclosure of financial and operational
information.

 8

First, Second and Third Extensions

On February 27, 2023,
the Company held an