Company: CXAI
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001829126-25-003532
Chunk: 13

Company: CXApp Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 13
---
 company for financial reporting purposes. KINS has been determined to be the accounting acquirer because KINS maintains control of the Board of Directors and management of the combined company. For accounting purposes, the acquirer is the entity that has obtained control of another entity and, thus, consummated a business combination. The rights of holders of our common stock and warrants are governed by our amended and restated certificate of incorporation (our “certificate of incorporation” or “Charter”), our amended and restated bylaws (the “Bylaws”), and the Delaware General Corporation Law (the “DGCL”), and, in the case of the warrants, the Warrant Agreement, dated as of December 14, 2020, by and between KINS and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”). See the section titled “ Description of Capital Stock.”

<div align='center'>8</div>

March 2025 Securities Purchase Agreement

On March 26, 2025, we entered into a Securities Purchase Agreement (the “Avondale Purchase Agreement”) with Avondale Capital, LLC (“Avondale”), providing us with a financing commitment of up to $20,000,000 in the form of one or more prepaid common stock purchases. Under the Avondale Purchase Agreement, we issued and sold to Avondale an initial prepaid purchase in the principal amount of $4,200,000 (the “Initial Avondale Pre-Paid Purchase”), and we delivered 80,000 shares of our common stock to Avondale at closing as commitment shares (the “Commitment Shares”). The Commitment Shares were issued to Avondale as a financing fee and are being registered for resale hereunder. After an original issue discount of $200,000 and a $10,000 transaction expense payable to Avondale, the net cash proceeds to us from the Initial Avondale Pre-Paid Purchase were $4,000,000.

Each Pre-Paid Purchase under the Avondale Purchase Agreement (the “Avondale Pre-Paid Purchase”) is an unsecured prepaid investment that carries a principal balance which can be satisfied (redeemed) by the issuance of common stock to Avondale, at Avondale’s election, from time to time. In other words, at any time after the Initial Avondale Pre-Paid Purchase (and subject to a restricted period and the effectiveness of the registration statement of which this prospectus forms a part), Avondale has the right