Company: CXAI
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001829126-25-003532
Chunk: 173

Company: CXApp Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 173
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--|-------------:|
| Principal amount |                                     |     | $ |        3,885 |     | $ |        3,885 |
| Less:            | Unamortized original issue discount |     |   |            - |     |   |          834 |
|                  | Unamortized debt issuance cost      |     |   |            - |     |   |           14 |
|                  |                                     |     |   |        3,885 |     |   |        3,037 |
| Add: Interest    |                                     |     |   |          372 |     |   |           16 |
|                  | Accrued monitoring fee              |     |   |          273 |     |   |            - |
|                  |                                     |     |   |        4,530 |     |   |        3,053 |
| Less:            | Extinguishment                      |     |   |        3,927 |     |   |            - |
|                  |                                     |     | $ |          603 |     | $ |        3,053 |

F-27

December 2023 Promissory Note

On December 15, 2023, the Company entered into a note purchase agreement with Streeterville Capital, LLC (the “Lender”), pursuant to which we agreed to issue and sell to the Lender an unsecured promissory note (the “Note”) in an aggregate initial principal amount of $3,885 thousand, which is payable on or before the date that is 12 months from the issuance date. The initial principal amount includes an original issue discount of $870 thousand and $15 thousand that we agreed to pay to the Lender to cover the Lender’s legal fees, accounting costs, due diligence, monitoring and other transaction costs. The net proceeds of the Note are $3,000 thousand.

Interest on the Note accrues at a rate of 10% per annum and is payable on the maturity date.

A monitoring fee of 10% of the outstanding balance will be charged starting six (6) months from the issuance of the Note to cover Lender’s accounting, legal and other costs incurred in monitoring. The foregoing fee shall automatically be added to the outstanding balance on the applicable date without any further action by either party.

The Lender shall have the right to redeem up to an aggregate of 1/6th of the initial principal balance of the Note plus any interest accrued