8-K
filed September 13, 2023, 7:59 PM ET
CIK 0001868573
other material
confidence high
sentiment neutral
materiality 0.65
APx Acquisition I extends deadline to Dec 9, 2023; new sponsor takes control, $8.25M redeemed
APx Acquisition Corp. I
- Shareholders approved three one-month extensions to complete a business combination, now until December 9, 2023.
- Sponsor APx Cap transferred 3.34M founder shares and 6.94M private placement warrants to Templar LLC for $1 plus up to $50k.
- Kyle Bransfield appointed CEO and Chairman; Daniel Braatz remains director. Xavier Martinez resigned as CFO.
- 757,463 public shares redeemed for ~$8.25M ($10.89/share), leaving ~$63.34M in trust account.
- IPO underwriters waived deferred underwriting discount; Sponsor retains 970,312 founder shares and 3.34M warrants.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Daniel Braatz resigned as Chairman of the Board and Chief Executive Officer at APx Acquisition Corp. I.
- Action
- resigned
- Role
- Chairman of the Board and Chief Executive Officer
Exact text from the filing
On September 8, 2023, effective immediately, the following officers submitted the resignation of their respective offices: Daniel Braatz as Chairman of the Board and Chief Executive Officer and Xavier Martinez as Chief Financial Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Xavier Martinez resigned as Chief Financial Officer at APx Acquisition Corp. I.
- Action
- resigned
- Role
- Chief Financial Officer
Exact text from the filing
On September 8, 2023, effective immediately, the following officers submitted the resignation of their respective offices: Daniel Braatz as Chairman of the Board and Chief Executive Officer and Xavier Martinez as Chief Financial Officer.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
APx Acquisition Corp. I: Amended Articles of Association to remove certain net tangible asset limitations regarding penny stock rules (effective 2023-09-07).
- Change
- bylaw amendment
- Effective
- 2023-09-07
Exact text from the filing
an amendment to the Articles of Association to expand the methods that the Company may employ to not become subject to the "penny stock" rules of the Securities and Exchange Commission by removing all limitations in connection with the Company having net tangible assets of at least $5,000,001
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
APx Acquisition Corp. I: Amended Articles of Association to allow Class B share conversion into Class A shares before business combination (effective 2023-09-07).
- Change
- bylaw amendment
- Effective
- 2023-09-07
Exact text from the filing
an amendment to the Articles of Association to provide for the right of a holder of the Company's Class B Shares to convert such shares into Class A ordinary shares
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
APx Acquisition Corp. I: Amended Articles of Association to extend business combination deadline to December 9, 2023 (effective 2023-09-07).
- Change
- bylaw amendment
- Effective
- 2023-09-07
Exact text from the filing
giving the Company the right to extend the date by which it has to complete a business combination up to three (3) times for an additional one (1) month each time from September 9, 2023 to December 9, 2023
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
APx Acquisition Corp. I amended Trust Agreement Amendment with Continental Stock Transfer & Trust Company (effective 2023-09-07).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Effective
- 2023-09-07
Exact text from the filing
On September 7, 2023, as approved by its shareholders at an extraordinary general meeting held on September 7, 2023 (the " EGM "), APx Acquisition Corp. I (the " Company "), and its trustee, Continental Stock Transfer & Trust Company (the " Trustee "), signed an amendment (the " Trust Agreement Amendment ") to the investment management trust agreement dated as of September 7, 2021, to extend the time to complete a business combination (the " Termination Date ") up to three (3) times for an additional one (1) month each time (each, an " Extension ") from September 9, 2023 to December 9, 2023
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
APx Acquisition Corp. I shareholders approved NTA Requirement Amendment Proposal: amend Articles of Association to expand methods to avoid being subject to penny stock rules by removing limitations on having net tangible assets of at least $5,000,001. at the 2023-09-07 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-09-07
Exact text from the filing
NTA Requirement Amendment Proposal Shareholders approved the proposal to amend the Company’s Articles of Association as a special resolution, an amendment to the Articles of Association to expand the methods that the Company may employ to not become subject to the “penny stock” rules of the Securities and Exchange Commission by removing all limitations in connection with the Company having net tangible assets of at least $5,000,001.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
APx Acquisition Corp. I shareholders approved Extension Amendment Proposal: amend Articles of Association to extend the date to complete a business combination up to three times for one month each from September 9, 2023 to December 9, 2023. at the 2023-09-07 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-09-07
Exact text from the filing
Extension Amendment Proposal Shareholders approved the proposal to amend the Company’s Articles of Association as a special resolution, giving the Company the right to extend the date by which it has to complete a business combination up to three (3) times for one (1) month each time from September 9, 2023, the Termination Date, to December 9, 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
APx Acquisition Corp. I shareholders approved Trust Agreement Amendment Proposal: amend the Trust Agreement to extend the Termination Date up to three times for one month each from September 9, 2023 to December 9, 2023. at the 2023-09-07 meeting.
- Outcome
- passed
- Meeting
- 2023-09-07
Exact text from the filing
Trust Agreement Amendment Proposal Shareholders approved the proposal to amend the Trust Agreement, as an ordinary resolution, to extend the Termination Date up to three (3) times for one (1) month each time from September 9, 2023 to December 9, 2023 by depositing the lesser of $0.025 per public share or $125,000 into the Company’s Trust Account for each Extension.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
APx Acquisition Corp. I shareholders approved Founder Share Amendment Proposal: amend Articles of Association to provide for the right of a holder of Class B Shares to convert such shares into Class A ordinary shares prior to the closing of a business combination. at the 2023-09-07 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-09-07
Exact text from the filing
Founder Share Amendment Proposal Shareholders approved the proposal to amend the Company’s Articles of Association as a special resolution, an amendment to the Articles of Association to provide for the right of a holder of Class B Shares to convert such shares into Class A ordinary shares, par value $0.0001 of the Company prior to the closing of a business combination by the Company.
View on SEC.gov
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