secwatch.observer — SEC 8-K summary
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Issuer:     APx Acquisition Corp. I (—)
CIK:        0001868573
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001193125-24-030417
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1868573/000119312524030417/0001193125-24-030417-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1868573/000119312524030417/d762789d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-030417

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