APx Acquisition I in an 8-K disclosed the sale of a majority of its sponsor’s holdings to Templar.
The original sponsor is selling 3,342,188 class B shares and 6,936,250 private placement warrants to Templar, which will also take over management with a nerw team.
The original sponsor will retain 970,312 founder shares and 3,342,188 warrants.
The SPAC’s shareholders ealrier this month approved a three-month extension to Dec. 9, with Templar depositing $125,000 into trust for the first month of the extension. There were 757,463 shares tendered for redemption, erasing about $8.3 million from the trust. That leaves the SPAC with about $63.3 million.
Redemptions on a February extension vote had erased approximately $111.35 million from the APx trust.
APx raised $150 million in a December 2021 IPO with plans to target a business combination with a technology-enabled Latin American company. The SPAC has yet to announce a deal. Read more.
