---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-030417"
form_type: "8-K"
ticker: null
cik: "0001868573"
company_name: "APx Acquisition Corp. I"
filed_at: "2024-02-12T23:59:59+00:00"
generated_at: "2026-06-06T04:29:30.598005+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# APX Acquisition Corp. I increases promissory note capacity to $2M for working capital and extension payments.

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-030417
- form_type: 8-K
- cik: 0001868573
- company_name: APx Acquisition Corp. I
- filed_at: 2024-02-12T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1868573/000119312524030417/0001193125-24-030417-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1868573/000119312524030417/d762789d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-030417
- JSON: https://secwatch.observer/filing/0001193125-24-030417.json
- Plain text: https://secwatch.observer/filing/0001193125-24-030417.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1868573/000119312524030417/0001193125-24-030417-index.htm
- Debt Financings
  APx Acquisition Corp. I amended debt of $2,000,000 with Templar LLC.
  - Principal: $2,000,000
  - Counterparty: Templar LLC
  - Event: amendment
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1868573/000119312524030417/0001193125-24-030417-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.