Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 2445

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 16
Chunk 2445
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 Offering. Offering costs amounting to $10,321,097
were charged to shareholders’ equity upon the completion of the Initial Public Offering and $465,166 were expensed as of the date
of the Initial Public Offering. 

Recently Issued Accounting
Standards 

In August
2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt-Debt
with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)
(“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require
separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception
guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional
disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06
amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments.
ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with
early adoption permitted beginning on January 1, 2021. The Company assessed the impact, if any, that ASU 2020-06 would have on its financial
position, results of operations or cash flows and determined there to be none. 

In November 2023, the FASB issued ASU 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07, which
is applicable to entities with a single reportable segment, will primarily require enhanced disclosures about significant segment expenses
and enhanced disclosures in interim periods. The guidance in ASU 2023-07 will be applied retrospectively and is effective for annual reporting
periods in fiscal years beginning after December 15, 2023 and interim reporting periods in fiscal years beginning after December 31, 2024,
with early adoption permitted. The Company adopted this guidance as of January 1, 2024.  The adoption resulted in disclosure changes
only.

In December
2023, the FASB issued ASU No. 202