APx Acquisition Corp. I Issues Unsecured Promissory Note to Bioceres LLC

On November 7, 2024, APx Acquisition Corp. I, a company listed under NASDAQ as APXIU, entered into a significant agreement by issuing an unsecured promissory note to Bioceres LLC. The note, valued at $700,000, was extended to Bioceres, an indirect shareholder of OmnigenicsAI Corp, which is a counterparty to APx Acquisition Corp. I’s previously disclosed business combination.

The promissory note comes with an annual interest rate of 20% and is expected to be repaid in full, along with all accrued interest, on the date of the initial business combination, which is termed the “Maturity Date.” Notably, the note includes provisions related to customary events of default, with certain conditions triggering the immediate repayment of the principal amount along with any interest and associated dues.

This transaction was carried out with adherence to the exemption from registration as outlined in Section 4(a)(2) of the Securities Act of 1933, thus ensuring compliance with regulatory requirements. A detailed copy of the promissory note, marked as Exhibit 10.1, has been appended to the Current Report on Form 8-K for reference and detailed disclosure.

It’s important to note that the information included in this report serves as a summary and is intended to provide an overview of the agreement. For a comprehensive understanding of the terms and implications of the promissory note, it is recommended to refer directly to the attached copy of the document.

APx Acquisition Corp. I (APXIU) continues its strategic financial moves with the issuance of this promissory note, aligning with its business objectives and operational strategies.

This report has been prepared in accordance with the guidelines laid out by the Securities and Exchange Commission for public disclosure and transparency regarding material events impacting the company’s financial status and operations.

In relation to this disclosure, APx Acquisition Corp. I has included the necessary financial statements and exhibits in accordance with Item 9.01 of the Securities Exchange Act of 1934. The company remains committed to fulfilling its obligations and keeping its investors informed about significant developments.

Contact:
APx Acquisition Corp. I
714 Westview Avenue, Nashville, TN 37205
Telephone: (202) 465-5882

Please note that all the information provided is accurate as per the latest 8-K filing by APx Acquisition Corp. I on November 7, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read APx Acquisition Corp. I’s 8K filing here.

APx Acquisition Corp. I Company Profile

APx Acquisition Corp. I. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. APx Acquisition Corp. I. was incorporated in 2021 and is based in Mexico City, Mexico.