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NEW YORK, December 07, 2021--(BUSINESS WIRE)--APx Acquisition Corp. I ("APx" or the "Company") announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market ("Nasdaq") and trade under the ticker symbol "APXIU" beginning on December 7, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq Global Market under the symbols "APXI" and "APXIW," respectively. The offering is expected to close on December 9, 2021.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to seek a business combination with a technology-enabled Latin American company. APx’s key individuals include Daniel Braatz (Chief Executive Officer and Chairman) and Xavier Martinez (Chief Financial Officer).
BofA Securities is acting as the sole book-running manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a final prospectus. When available, copies of the final prospectus may be obtained from BofA Securities by mailing NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at email@example.com.
A registration statement relating to the securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") on December 6, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement, preliminary prospectus and final prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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Chief Financial Officer