CXApp adds $5M cash from warrant exercises, adds 2 Fortune 200 customers, reduces warrants 15%

CXApp Inc.

Issued 600,000 common shares in exchange for 2M public warrants, reducing outstanding warrants by over 15%.
Net $5M cash added to balance sheet through exercise of ~435K warrants at $11.50 per share.
Onboarded two new Fortune 200 financial services customers in the past month.
Operating expenses cut by net 50% compared to pre-acquisition levels.
AI/AR technology platform in beta with existing customers; launch targeted for Q4 2023.

item 1.01 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CXApp Inc. entered into Warrant Exchange Agreement with an unaffiliated third party investor (effective 2023-07-14).

Action: entry
Counterparty: an unaffiliated third party investor
Effective: 2023-07-14

Exact text from the filing

On July 14, 2023, CXApp Inc. (the “Company”) entered into a Warrant Exchange Agreement (the “Agreement”) with an unaffiliated third party investor (the “Warrant Holder”) with respect to warrants to purchase an aggregate of 2,000,000 shares of its common stock

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

CXApp Inc. filing history →

Source: SEC EDGAR

accession 0001829126-23-004673

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