APx Acquisition Corp. I is a Cayman Islands-incorporated blank check company functioning as a SPAC with no current operational revenue, focused on identifying and executing a business combination through its funds raised via IPO and private placements.

# Company Summary - APx Acquisition Corp. I

## Overview
APx Acquisition Corp. I is a blank check company incorporated on May 13, 2021, under the laws of the Cayman Islands. Its primary purpose is to effectuate a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses or entities.

## Business Model
- The company operates as a special purpose acquisition company (SPAC) aiming to identify and acquire a target business without restrictions to industry or geographic region.
- It intends to complete its initial business combination using funds from its:
  - Public offering (IPO)
  - Private placement of warrants
  - Sale of shares in connection with the initial business combination
  - Possible issuance of debt or equity securities

## Capital Structure and Shareholders
- As of March 31, 2025:
  - Out of 4,832,556 issued and outstanding Class A Ordinary Shares, no Class B Ordinary Shares are outstanding.
  - The company’s founders and sponsors own a substantial portion of the shares (89.2%), including founder shares issued for nominal consideration.
- The market value of publicly held voting stock (non-affiliates) was approximately $65.0 million as of June 30, 2024, based on a closing price of $11.61 per share.

## Officers and Employees
- The company currently has two executive officers:
  - Kyle Bransfield (Chairman and CEO)
  - Xavier Martinez
- No full-time employees are planned prior to completing an initial business combination.
- Management focuses on identifying, evaluating, and executing a business combination.

## Financials
- No revenues or operating results are provided. The company is in the process of identifying a business target.
- As of December 31, 2024:
  - The company had approximately $62,410,856 remaining in its Trust Account, intended for use in the business combination process.
  - The company’s net tangible assets must be at least $5 million to proceed with the proposed business combination.
- The company has incurred liabilities in the form of promissory notes (e.g., Templar Working Capital Note, Bioceres Notes) to fund operations, with outstanding balances of $1,731,460 as of December 31, 2024.

## Operations
- As a SPAC, the company has not yet engaged in any operating activities or generated revenues.
- Its primary activity is searching for suitable acquisition targets, conducting due diligence, and structuring a business combination.

## Business Focus
- The company is targeting businesses with enterprise values larger than it could acquire solely with IPO proceeds and warrants.
- Initial target industries and regions are not strictly specified but include considerations for international operations, notably in Latin America, and companies that may benefit from operational improvements.
- No current revenues, customer counts, or income figures are provided, as the company is still in the pre-acquisition stage.

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**Summary Note:**  
This company primarily functions as a vehicle to acquire or merge with other businesses, with no current operational revenue, customer base, or income detailed. Its focus is on identifying suitable targets across industries and regions, using funds raised in its IPO and private placements, with extensive funding secured through various extensions, loans, and sponsor agreements.

APx Acquisition Corp. I is a blank check company incorporated to identify and merge with one or more businesses or entities, primarily focused on achieving a successful business combination.

# APx Acquisition Corp. I - Company Overview

## Overview
APx Acquisition Corp. I is a blank check company incorporated on May 13, 2021, in the Cayman Islands. The primary purpose of the company is to identify and merge with one or more businesses or entities to create a successful business combination. The company is not limited to any specific industry or geographic region in its search for target businesses.

## IPO and Financials
- **Initial Public Offering (IPO)**: The registration statement for its IPO was effective on December 6, 2021. The company raised gross proceeds of **$172,500,000** by issuing **17,250,000 Units** at a price of **$10.00 per Unit**.
- **Components of Units**: Each Unit consisted of:
  - One Class A ordinary share.
  - One-half of one redeemable warrant (where each whole Warrant entitles the holder to purchase one Class A ordinary share for $11.50).
- **Private Placement Warrants**: The company also raised an additional **$8,950,000** through a private sale of **8,950,000 warrants** to the APx Sponsor at a price of **$1.00 per warrant**.
- **Total Trust Account Funds**: $175,950,000 was placed in a U.S.-based Trust Account, which includes amounts from both the IPO and private placement. 

## Target Business Combination
The company aims to complete an initial business combination by December 9, 2024, which may extend under certain provisions. It aims to find businesses that are at least 80% of the fair market value of the net assets held in the Trust Account.

## Management Team
The management team, including officers and directors, has considerable discretion regarding the use of the IPO proceeds. However, they have broad general goals and no assurance can be given that they will successfully complete a business combination. 

### Employees
- **Current Employees**: The firm has two executive officers: **Kyle Bransfield** and **Xavier Martinez**.
- **Employee Model**: The company does not intend to have any full-time employees prior to concluding its initial business combination.

## Customer Base and Revenue
- **Customers**: Specific details about the number of customers are not disclosed, as APx Acquisition Corp. I is still in the process of identifying a suitable acquisition target and does not have operating results or revenue.
- **Revenue**: The company has no operating revenues, as it is still in the pre-business combination phase and does not engage in business activities until a combination is consummated.

## Financial Condition
- **Current Assets**: As of December 31, 2023, the company reported operating cash of **$8,167** and a working capital deficit of $737,336, indicating financial strain before the completion of any business combination.

## Conclusion
As a blank check company, APx Acquisition Corp. I is focused on merging with suitable target businesses to generate revenue and become operational. However, it currently lacks operating history, customer base, and revenue generation, with its future largely depending on the success of its initial business combination.

APx Acquisition Corp. I

10-K / March 31, 2025

10-K / September 13, 2024

10-K / March 31, 2025

Company Summary - APx Acquisition Corp. I

Overview

Business Model

Capital Structure and Shareholders

Officers and Employees

Financials

Operations

Business Focus