APx Cap Sponsor Group I, LLC - 08 Sep 2023 Form 4 Insider Report for APx Acquisition Corp. I (APXIF)

Reporting relationship: 10%+ Owner
Issuer ticker: APXIF
Reported as of: 08 Sep 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 06 Feb 2024, 21:31:55 UTC
Prior SEC filing: 06 Dec 2021
Source filing: View source filing
Reporting owner signature: /s/ Daniel Braatz

Filing notes and source

Key filing fact

APx Cap Sponsor Group I, LLC filed Form 4 for APx Acquisition Corp. I (APXIF) on 06 Feb 2024.

Key facts

This page summarizes APx Cap Sponsor Group I, LLC's Form 4 filing for APx Acquisition Corp. I (APXIF).
3 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 06 Feb 2024, 21:31.

Change

Previous filing in this sequence was filed on 06 Dec 2021.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

APXI transaction

Class A ordinary shares

Conversion of derivative security

Transaction value
Shares: +970,312
Change %
Price
Shares after: 970,312
Date: 02 Oct 2023
Ownership: Direct
Footnotes: F1, F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

APXI transaction Derivative

Class B ordinary shares

Sale

Transaction value: $0
Shares: -3,342,188
Change %: -78%
Price: $0.000000
Shares after: 970,312
Date: 08 Sep 2023
Ownership: Direct
Underlying class: Class A ordinary shares
Underlying amount: 3,342,188
Exercise price
Footnotes: F1, F2, F3

APXI transaction Derivative

Class B ordinary shares

Conversion of derivative security

Transaction value: $0
Shares: -970,312
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 02 Oct 2023
Ownership: Direct
Underlying class: Class A ordinary shares
Underlying amount: 970,312
Exercise price
Footnotes: F1, F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

APx Cap Sponsor Group I, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 3 footnotes

Footnote 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.

Footnote 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.

Footnote 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.