APx Acquisition Corp. I Announces Approval of Extension Meeting Proposals and Intention to Extend Combination Period
February 27 2023 - 4:05PM
Business Wire
APx Acquisition Corp. I (“APx” or the “Company”), a special
purpose acquisition company, announced today that at the
extraordinary general shareholders meeting held on February 27,
2023, the Company’s shareholders voted in favor of proposals to
approve an amendment to the Investment Management Trust Agreement,
dated December 6, 2021, and the Company’s Amended and Restated
Memorandum and Articles of Association (the “Amended Articles of
Association”) to change the payment required to extend the date by
which the Company must consummate an initial business combination
(the “Combination Period”) by two three-month periods. As amended,
the required payments are the deposit by the Company into the trust
account (the “Trust Account”) established in connection with the
Company’s initial public offering (the “IPO”), of the lesser of (a)
$750,000 and (b) $0.125 for each Class A ordinary share then
outstanding for each three month amendment.
In connection with the vote to approve the proposals, holders of
10,693,417 shares of Class A ordinary shares issued as part of the
units sold in the IPO (the “Public Shares”) properly exercised
their right to redeem their shares (and did not withdraw their
redemption) for cash at a redemption price of approximately $10.41
per share, for an aggregate redemption amount of approximately
$111,346,281.12. Following such redemptions, approximately
$68,271,080.69 will remain in the Trust Account and 6,556,583
Public Shares will remain issued and outstanding.
On February 27, 2023, the Company’s sponsor notified the Company
of its intent to extend the Combination Period by one three-month
period.
About APx Acquisition Corp. I
APx Acquisition Corp. I is a blank check company formed for the
purpose of effecting a merger, amalgamation, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company’s search for an initial business combination. No assurance
can be given that the Company will ultimately complete a business
combination transaction. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company's registration statement for the initial public
offering and other reports filed with the SEC. Copies are available
on the SEC's website, www.sec.gov. The Company expressly disclaims
any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230227005904/en/
Investor
Xavier Martinez Chief Financial Officer Xavi@apxcap.mx
APx Acquisition Corporat... (NASDAQ:APXI)
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