Company: CXAI
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001829126-25-001566
Chunk: 9

Company: CXApp Inc.
Filing Date: 2025-03-07
Form: 424B3
Chunk 9
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 of shares of KINS capital stock (the “Business Combination”). As a result of the Business Combination, KINS changed their name to CXApp Inc. (“CXApp”). The shares are now trading on the Nasdaq using the ticker CXAI. The transaction closed on March 14, 2023. See Note 3 for more details.

Unless the context otherwise requires, “we,” “us,” “our,” “CXApp” and the “Company” refer to CXApp Inc., a Delaware corporation, and its consolidated subsidiaries following the Business Combination (as defined below). Unless the context otherwise requires, references to “KINS” refer to KINS Technology Group Inc., a Delaware corporation (“KINS”), prior to the Business Combination. All references herein to the “Board” refer to the board of directors of the Company. “Legacy CXApp” refers to CXApp Holding Corp., a Delaware corporation and a wholly owned subsidiary of the Company, which the Company acquired through the Business Combination. Prior to the Separation (as defined below), Legacy CXApp was a wholly owned subsidiary of Inpixon, a Nevada corporation (“Inpixon”).

The Business Combination was accounted for using the acquisition method (as a forward merger), with goodwill and other identifiable intangible assets recorded in accordance with GAAP, as applicable. Under this method of accounting, the “Enterprise Apps Business” (formerly known as CXApp) is treated as the “acquired” company for financial reporting purposes. KINS (now known as CXApp Inc.) has been determined to be the accounting acquirer because KINS maintains control of the Board of Directors and management of the combined company.

NOTE 2 – Summary of Significant Accounting Policies

Liquidity

As of September 30, 2024 (Successor), the Company had a working capital deficiency of approximately $7,404
thousand and cash and cash equivalents of approximately $5,082
thousand. For the three and nine months ended September 30, 2024 (Successor), the Company incurred net losses of approximately $5,004
thousand and $15,430 thousand, respectively. During the nine months ended September 30, 2024 (Successor), the Company used approximately
$4,629
thousand of cash for operating activities.

The Company acknowledges that there are challenges
in generating sufficient revenue to fully support its operations and achieving long-term profitability. The Company’s recurring
losses and cash usage in operations have raised concerns about its ability to continue