Company: CXAI
Filing Date: 2025-11-12
Form Type: 424B3
Source: 0001829126-25-009079
Chunk: 36

Company: CXApp Inc.
Filing Date: 2025-11-12
Form: 424B3
Chunk 36
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5, respectively. The total fair value of RSUs vested was $2,318 thousand for three and nine months ended September 30, 2024.

Non-cash stock-based compensation expenses related
to restricted stock units for the three and nine months ended September 30, 2025 and September 30, 2024 were recorded in the financial
statements as summarized below:

| Schedule of non-cash stock-based compensation expenses related to restricted stock units |     |     | Three Months ended 
      September 30, 
               2025 |     |     | Nine Months ended 
     September 30, 
              2025 |     |     | Three Months ended 
      September 30, 
               2024 |     |     | Nine Months ended 
     September 30, 
              2024 |
|:-----------------------------------------------------------------------------------------|:----|:----|-------------------:|:----|:----|------------------:|:----|:----|-------------------:|:----|:----|------------------:|
| Research and development                                                                 |     |     |                  4 |     |     |               387 |     |     |                100 |     |     |               504 |
| Sales and marketing                                                                      |     |     |                  2 |     |     |               195 |     |     |                 51 |     |     |               257 |
| General and administrative                                                               |     |     |                776 |     |     |             1,268 |     |     |                648 |     |     |             1,152 |
| Total non-cash stock compensation                                                        |     |     |                782 |     |     |             1,850 |     |     |                799 |     |     |             1,913 |

As of September 30, 2025, the Company has approximately
$594
thousand of unrecognized restricted stock unit compensation to be expensed over a weighted average period of 0.71
year.

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-P