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
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| Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On May 30, 2024, APx Acquisition Corp. I (the “Company”), received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that since the Company had not yet filed its Form 10-K for the period ended December 31, 2023 nor had it filed its Form 10-Q for the period ended March 31, 2024, the Company was no longer in compliance with the Nasdaq Global Market continued listing criteria set forth in Listing Rule 5250(c)(1) (the “Rule”), which requires the Company to timely file all required periodic financial reports with the Securities and Exchange Commission through the EDGAR System (the “Notice”). The Notice additionally indicates that the Company, pursuant to the Listing Rules, has 60 calendar days, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, the Company will have 180 calendar days from the referenced Form 10-K’s due date, or until September 27, 2024, to evidence compliance. If Nasdaq were to reject the Company’s plan, Nasdaq rules permit the Company to appeal the decision to a hearings panel.
The Notice serves only as a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Global Market. The Company intends to take action to submit a plan to regain compliance within the 60 calendar days submission period, and, if Nasdaq accepts the plan to regain compliance, to subsequently regain compliance with the Rule within the 180 calendar day compliance period. While the Company is exercising diligent efforts to maintain the listing of its securities on Nasdaq Global Market, there can be no assurance that the Company will be able to regain or maintain compliance with the Rule. In addition, if the Company does not meet the Rule’s requirement by the end of the 180 calendar day compliance period, Nasdaq could provide notice that the Company’s securities will become subject to delisting. In the event the Company receives notice that its securities are being delisted, Nasdaq rules permit the Company to appeal any delisting determination by the Nasdaq staff to a hearings panel.
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: June 5, 2024 | By: | /s/ Kyle Bransfield | ||
| Name: | Kyle Bransfield | |||
| Title: | Chief Executive Officer | |||