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Share Name | Share Symbol | Market | Type |
---|---|---|---|
APx Acquisition Corporation I | NASDAQ:APXIU | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.82 | 11.19 | 13.01 | 0 | 14:33:47 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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Registrant’s telephone number, including area code:
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On December 21, 2023, APX Acquisition Corp. I (the “Company”) received a deficiency letter (the “Letter”) on December 21, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”). The Letter notified the Company that since the Company had not yet filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 (the “Form 10-Q”), the Company does not comply with Nasdaq’s Listing Rule 5250(c)(1) relating to the Company’s obligation to file periodic financial reports for continued listing. The Letter further stated that the Company has until February 19, 2024 to submit a plan (the “Plan”) to regain compliance with respect to the delinquent reports. The Letter also stated that any staff exemption to allow the Company to regain compliance, if granted, will be limited to a maximum of 180 calendar days from the due date of the Form 10-Q, or May 12, 2024.
If Nasdaq does not accept the Plan, the Company will have the opportunity to appeal that decision to the Nasdaq Hearings Panel.
The Company will continue to work with its auditors with the objective of filing the Form 10-Q as soon as practicable and will work diligently to submit the Plan promptly and take the necessary steps to regain compliance as soon as practicable.
Item 7.01 Regulation FD Disclosure.
A copy of the Company’s press release regarding the Letter, dated December 28, 2023, is being furnished herewith as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information in this current report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. | Financial Statements and Exhibits |
(c) Exhibits:
Exhibit No. | Description | |
99.1 | Press Release dated December 28, 2023 | |
104 | Cover Page Interactive Data File |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
APX ACQUISITION CORP. I | ||||||
Dated: December 28, 2023 | By: | /s/ Kyle Bransfield | ||||
Name: | Kyle Bransfield | |||||
Title: | Chief Executive Officer |
Exhibit 99.1
APX Acquisition Corp. I receives Nasdaq notice on late filing of its Form 10-Q
NASHVILLE, Tenn., Dec. 28, 2023 /PRNewswire/ APX Acquisition Corp. I (NASDAQ: APXI) (Company), a publicly traded special purpose acquisition company, today announced that it received a deficiency letter (the Letter) on December 21, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market (Nasdaq). The Letter notified the Company that since the Company had not yet filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 (the Form 10-Q), the Company does not comply with Nasdaqs Listing Rule 5250(c)(1) relating to the Companys obligation to file periodic financial reports for continued listing. The Letter further stated that the Company has until February 19, 2024 to submit a plan (the Plan) to regain compliance with respect to the delinquent reports. The Letter also stated that any staff exemption to allow the Company to regain compliance, if granted, will be limited to a maximum of 180 calendar days from the due date of the Form 10-Q, or May 12, 2024.
If Nasdaq does not accept the Plan, the Company will have the opportunity to appeal that decision to the Nasdaq Hearings Panel.
The Company will continue to work with its auditors with the objective of filing the Form 10-Q as soon as practicable and will work diligently to submit the Plan promptly and take the necessary steps to regain compliance as soon as practicable.
About APX Acquisition Corp. I
The Company is a special purpose acquisition company, led by serial SPAC sponsor Kyle Bransfield, formed for the purpose of effecting a business combination with one or more businesses or entities. While the Company may pursue an initial business combination in any industry, The Company intends to focus its search on companies in Spanish-speaking Latin American countries or companies outside of Latin America that provide goods and services to Spanish-speaking markets.
Forward-Looking Statements
This press release includes, and oral statements made from time to time by representatives of the Company may include, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as anticipate, believe, continue, could, estimate, expect, intend, may, might, plan, possible, potential, predict, project, should, would and similar expressions, as they relate to the Company or the Companys management team, identify forward-looking statements. Such forward-looking statements in this press release include, but are not limited to, the Companys expectations about the timing of completion and filing of the Form 10-Q, statements related to the Companys Plan, and timing and actions taken to regain compliance with Nasdaq. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Companys filings with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or
persons acting on the Companys behalf are qualified in their entirety by this paragraph. 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 Companys registration statement and final prospectus relating to the Companys initial public offering filed with the SEC. Copies are available on the SECs website at 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 applicable law.
Contacts:
APx Acquisition Corp. I
Kyle Bransfield
Chief Executive Officer
kyle.bransfield@unionacquisitiongroup.com
SOURCE APx Acquisition Corp. I
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