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APx Acquisition Corp. I (APXIF-1.49%) has filed its annual report filing for the fiscal year ended December 31, 2024.
The company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
APx Acquisition Corp. I completed its initial public offering on December 9, 2021, raising $172.5 million by selling 17,250,000 units at $10.00 per unit.
The company is currently in the process of completing a business combination with OmnigenicsAI Corp, a Cayman Islands exempted company, as part of its proposed business combination.
As of December 31, 2024, APx Acquisition Corp. I had $6.2 million in cash and investments held in the trust account, with a working capital deficit of $4.8 million.
The company has extended the deadline to complete its business combination to December 9, 2025, through a series of shareholder-approved extensions.
APx Acquisition Corp. I's securities were delisted from Nasdaq as of December 17, 2024, and are now quoted on the Pink Open Market of the OTC under the symbol 'APXIF'.
The company reported a net loss of $119,057 for the fiscal year ended December 31, 2024, primarily due to operating costs.
APx Acquisition Corp. I continues to focus on completing its proposed business combination with OmnigenicsAI Corp. and is working towards meeting the necessary conditions and approvals.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the APx Acquisition Corp. I annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.