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

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CXApp Inc. filing history →

Source: SEC EDGAR

accession 0001829126-23-004673

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