APx Acquisition Corp. I (Nasdaq: APXIU) Extends Combination Period and Amends Trust Agreement

APx Acquisition Corp. I (Nasdaq: APXIU) shareholders have approved an extension of the company’s Combination Period in a move expected to impact its future business combinations. On December 4, 2024, the company, along with its trustee, Continental Stock Transfer & Trust Company, signed an amendment to the investment management trust agreement. This amendment extends the Combination Period as defined in the agreement to the Extended Date.

The shareholders of APx Acquisition Corp. I also approved several proposals at an extraordinary general meeting held on the same date. Among the approved proposals were the Extension Amendment Proposal, which extends the Combination Period to December 9, 2025, and the Trust Agreement Amendment Proposal to amend the Trust Agreement accordingly. Additionally, shareholders voted to eliminate the Redemption Limitation and the NTA Requirement, further amending the Company’s Articles of Association.

At the EGM, which saw 88.35% of shares represented, shareholders voted in favor of the various proposals. The Extension Amendment Proposal received 7,219,785 votes for, with 1,535,972 against. The Trust Agreement Amendment Proposal garnered 7,219,785 votes for and 1,535,972 against, while the NTA Requirement Amendment Proposal had 7,444,606 votes for and 1,311,151 against.

In conjunction with the shareholder vote, a significant number of Public Shares were tendered for redemption, resulting in the removal of $60,856,059.42 (approximately $11.99 per share) from the Trust Account to pay these holders. Following these redemptions, $6,233,015.29 will remain in the Trust Account.

The resolutions adopted at the EGM, including the Charter Amendment, will be filed with the Cayman Islands Registrar of Companies. In light of these developments, the company looks to navigate its operations with the extended Combination Period and the amended Trust Agreement, reflecting its commitment to strategic growth and shareholder value.

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.

About APx Acquisition Corp. I

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.