APx Acquisition Corp. I: debt financing — APX Acquisition Corp. I increases promissory note capacity to $2M for working capital and extension payments.

APx Acquisition Corp. I

On Feb 9, 2024, amended note increased maximum draw from $500K to $2M with Templar LLC.
Up to $1.5M of principal can convert into private warrants at $1.00 per warrant on business combination.
Note is non-interest bearing, payable at business combination; if deal fails, loan is forgiven.
Funds may be used for working capital and extension payments to Continental Stock Transfer (extension fees).
This is the second promissory note expansion, indicating ongoing cash needs to extend SPAC timeline.

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 $500,000 with Templar LLC maturing the date on which the Company consummates its initial business combination.

Instrument: loan
Principal: $500,000
Counterparty: Templar LLC
Maturity: the date on which the Company consummates its initial business combination
Event: incurrence

Exact text from the filing

On September 8, 2023, APX Acquisition Corp. I (the “Company”) issued an unsecured promissory note (the “Note”) in the principal amount of $500,000 to Templar LLC (“Templar”).

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

APx Acquisition Corp. I amended debt of $2,000,000 with Templar LLC.

Principal: $2,000,000
Counterparty: Templar LLC
Event: amendment

Exact text from the filing

On February 9, 2024, the Company and Templar amended and restated the Note (the “Amended and Restated Note”), to increase the maximum principal amount from $500,000 to $2,000,000

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001193125-24-030417

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