APx Acquisition Corp. I: debt financing — APx Acquisition Corp I deposits $750k to extend SPAC deadline to Sept 9, 2023

APx Acquisition Corp. I

Issued $750k promissory note to Grupo Promotor de Desarrollo e Infraestructura; interest paid in warrants.
Funds deposited into trust account to extend termination date by 3 months from June 9 to Sept 9, 2023.
Note due on earlier of business combination or Dec 31, 2023; interest-in-kind warrants identical to IPO private placement warrants.
Extension provides additional time to complete a business combination.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

APx Acquisition Corp. I incurred loan of $750,000 with Grupo Promotor de Desarrollo e Infraestructura, SA de CV maturing the earlier of (a) the Company’s consummation of a Business Combination ... and (b) December 31, 2023.

Instrument: loan
Principal: $750,000
Counterparty: Grupo Promotor de Desarrollo e Infraestructura, SA de CV
Maturity: the earlier of (a) the Company’s consummation of a Business Combination ... and (b) December 31, 2023
Event: incurrence

Exact text from the filing

On May 26, 2023, the Company issued an unsecured promissory note (the “Note”) in the amount of $750,000 to Grupo Promotor de Desarrollo e Infraestructura, SA de CV

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

APx Acquisition Corp. I entered into Note with Grupo Promotor de Desarrollo e Infraestructura, SA de CV valued at $750,000 (effective 2023-05-26).

Action: entry
Counterparty: Grupo Promotor de Desarrollo e Infraestructura, SA de CV
Value: $750,000
Effective: 2023-05-26

Exact text from the filing

On May 26, 2023, the Company issued an unsecured promissory note (the “Note”) in the amount of $750,000 to Grupo Promotor de Desarrollo e Infraestructura, SA de CV, a company organized under the laws of Mexico (the “Payee”).

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Source: SEC EDGAR

accession 0001193125-23-159040

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