Company: CXAI
Filing Date: 2025-05-23
Form Type: 424B3
Source: 0001829126-25-003922
Chunk: 35

Company: CXApp Inc.
Filing Date: 2025-05-23
Form: 424B3
Chunk 35
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ercised                            |     |        | (318,165 | ) |     | $                | 7.33 |
| Forfeited                            |     |        |        - |   |     |                  |      |
| RSU outstanding at December 31, 2024 |     |        |  688,935 |   |     |                  |      |

The total fair value of RSUs vested during the three months ended March 31, 2025 and year ended March 31, 2024 was $15 thousand and $0 thousand respectively.

Non-cash stock-based compensation expenses related to restricted stock units recorded in the financial statements is summarized below:

| Schedule of non-cash stock-based compensation expenses related to restricted stock units |     |   | Three Months Ended March 31, 
                         2025 |     |   | Three Months Ended 
          March 31, 
               2024 |
|:-----------------------------------------------------------------------------------------|:----|:--|-----------------------------:|:----|:--|-------------------:|
| Research and development                                                                 |     | $ |                          102 |     | $ |                 98 |
| Sales and marketing                                                                      |     |   |                           52 |     |   |                 51 |
| General and administrative                                                               |     |   |                          211 |     |   |                232 |
| Total non-cash stock compensation                                                        |     | $ |                          365 |     | $ |                381 |

As of March 31, 2025 and March 31, 2024, the Company has approximately $656 thousand and $1,454 thousands of unrecognized restricted stock unit compensation to be expensed over a weighted average period of 0.78 year and 1.76 years, respectively.

NOTE 11 – Convertible Debt

Securities Purchase Agreement with Avondale Capital, LLC

On March 26, 2025, the Company entered into a Securities Purchase Agreement (“SPA”) with Avondale Capital, LLC (“Avondale”), 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 Pre-Paid Purchase (“Pre-Paid Purchase #1”) 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 $3,990 thousand,