Company: CXAI
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001829126-25-003532
Chunk: 194

Company: CXApp Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 194
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 |     |                     |     678 |   |     |             |  310 |   |     |             |    - |   |     |          |     988 |   |
| Accrued interest expense on promissory note and convertible debt           |     |                     |     340 |   |     |             |  (44 | ) |     |             |    - |   |     |          |     296 |   |
| Change in fair value of derivative liability                               |     |                     |   3,575 |   |     |             |   17 |   |     |             |    - |   |     |          |   3,592 |   |
| Net cash used in operating activities                                      |     |                     |  (4,629 | ) |     |             |    - |   |     |             |    - |   |     |          |  (4,629 | ) |

NOTE 22 – Subsequent Events

Note Exchanges

During the period from January 1, 2025, to January 29, 2025, the Company exchanged $605 thousand of the outstanding balance of the December 2023 Note for approximately 311,783 shares of the Company’s Class A Common Stock at exchange prices between $1.79 and $2.03 per share. The loss on the exchange is approximately $48 thousand.

Convertible Debt Conversion

In January 31, 2025, the Company has issued 242,491 shares of the Company’s Class A Common Stock related to Purchase Notice dated January 28, 2025, for an exchange amount of $297 thousand.

F-47

Securities Purchase Agreement with Avondale Capital, LLC

Securities Purchase Agreement with Avondale Capital

On March 26, 2025, the Company entered into a Securities Purchase Agreement (“SPA”) with Avondale Capital, LLC (“Investor”), pursuant to which the Company may issue and sell up to $20,000 thousand of Pre-Paid Purchase agreements (“Pre-Paid Purchases”) in tranches over time. The initial tranche included a $4,200 thousand Pre-Paid Purchase, structured with a $200 thousand original issue discount (“OID”) and $10 thousand in transaction-related fees, resulting in net proceeds of $4,000 thousand. In connection with the initial closing, the Company issued 80,000 commitment shares to the Investor.

Under the terms of the SPA, the Investor