Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 35

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 35
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 other risk factors herein.

If we are unable to consummate our initial business combination
within the prescribed time frame, our public shareholders may be forced to wait beyond such time frame before redemption from our Trust
Account. 

If we are unable to consummate our initial business
combination within the Combination Period, the funds then on deposit in the Trust Account, including interest earned on the funds held
in the Trust Account (less taxes payable and up to $100,000 of interest income to pay dissolution expenses), will be used to fund the
redemption of our public shares, as further described herein. Any redemption of public shareholders from the Trust Account will be effected
automatically by function of our Articles prior to any voluntary winding up. If we are required to wind-up or liquidate the Trust Account
and distribute such amount therein, pro rata, to our public shareholders, as part of any liquidation process, such winding up, liquidation
and distribution must comply with the applicable provisions of the Companies Act. In that case, investors may be forced to wait beyond
the Combination Period before the redemption proceeds of our Trust Account become available to them, and they receive the return of their
pro rata portion of the funds from our Trust Account. We have no obligation to return funds to investors prior to the date of our redemption
or liquidation unless we consummate our initial business combination prior thereto and only then in cases where investors have sought
to redeem their Class A ordinary shares. Only upon our redemption or any liquidation will public shareholders be entitled to distributions
if we are unable to complete our initial business combination.

16

If we seek shareholder approval of our initial business combination,
our initial shareholders and management team have agreed to vote in favor of such initial business combination, regardless of how our
public shareholders vote. 

Our Sponsors own 89.2% of our issued and outstanding
ordinary shares. Our Sponsors and management team also may from time to time purchase Class A ordinary shares prior to our initial business
combination. Our Articles provide that if we seek shareholder approval of an initial business combination, such initial business combination
will be approved if we receive an ordinary resolution under Cayman Islands law, which requires the affirmative vote of a majority of the
shareholders who attend and vote at a general meeting of the company, including the founder shares. As a result, in addition to our Sponsors’
founder shares, no public shares remaining issued and outstanding after the previous redemptions will need to be voted