APx Cap Sponsor Group I, LLC - Sep 8, 2023 Form 4 Insider Report for APx Acquisition Corp. I (APXI)

Role: 10%+ Owner
Signature: /s/ Daniel Braatz
Stock symbol: APXI
Transactions as of: Sep 8, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/6/2024, 09:31 PM
Previous filing: Dec 6, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APXI	Class A ordinary shares	Conversion of derivative security		+970K			970K	Oct 2, 2023	Direct	F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	APXI	Class B ordinary shares	Sale	$0	-3.34M	-77.5%	$0.00	970K	Sep 8, 2023	Class A ordinary shares	3.34M		Direct	F1, F2, F3
transaction	APXI	Class B ordinary shares	Conversion of derivative security	$0	-970K	-100%	$0.00^*	0	Oct 2, 2023	Class A ordinary shares	970K		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

APx Cap Sponsor Group I, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The Class B ordinary shares will automatically convert into Class A ordinary shares on a one-for-one basis for no additional consideration or concurrently with or immediately following the consummation of the initial business combination by the Issuer, or may be converted at the election of the holder, on a one-for-one basis, subject to the adjustments described in the Issuer's prospectus on Form S-1 filed on November 19, 2021 (the "Prospectus"). The Class B ordinary shares have no expiration date. On October 2, 2023, APx Cap Sponsor Group I, LLC converted all Class B ordinary shares it holds into Class A ordinary shares.
F2	APx Cap Sponsor Group I, LLC, a Cayman Islands limited liability company, is the record holder of such shares and is controlled by its managing member, APx Cap Holdings I, LLC. APx Cap Holdings I, LLC's board of directors consists of three members. Each director of APx Cap Holdings I, LLC has one vote, and the approval of the members of the board of directors is required to approve an action of APx Cap Holdings I, LLC. Under the so-called "rule of three," if voting and dispositive decisions regarding an entity's securities are made by two or more individuals, and a voting and dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities.
F3	This is the situation with regard to APx Cap Holdings I, LLC. Accordingly, no individual manager of APx Cap Holdings I, LLC exercises voting or dispositive control over any of the securities held by APx Cap Holdings I, LLC even those in which he directly holds a pecuniary interest. Accordingly, none of them are deemed to have or share beneficial ownership of such shares and, for the avoidance of doubt, each expressly disclaims any such beneficial interest to the extent of any pecuniary interest he may have therein, directly or indirectly.