Company: CXAI
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001829126-25-006142
Chunk: 35

Company: CXApp Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 35
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 |     |   | Six Months ended 
         June 30, 
             2025 |     |   | Three Months ended 
           June 30, 
               2024 |     |   | Six Months ended 
         June 30, 
             2024 |
|:-----------------------------------------------------------------------------------------|:----|:--|-------------------:|:----|:--|-----------------:|:----|:--|-------------------:|:----|:--|-----------------:|
| Research and development                                                                 |     | $ |                281 |     | $ |              383 |     | $ |                306 |     | $ |              404 |
| Sales and marketing                                                                      |     |   |                141 |     |   |              193 |     |   |                155 |     |   |              206 |
| General and administrative                                                               |     |   |                281 |     |   |              492 |     |   |                272 |     |   |              504 |
| Total non-cash stock compensation                                                        |     | $ |                703 |     | $ |            1,068 |     | $ |                733 |     | $ |            1,114 |

As of June 30, 2025 and June 30, 2024, the Company has approximately $914 thousand and $721 thousands of unrecognized restricted stock unit compensation to be expensed over a weighted average period of 0.86 year and 1.51 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, received on April 8, 2025.

In connection with the initial closing, the Company was required to issue 80,000 commitment shares to Avondale. On March 26, 2025, the Company recorded