CXApp Inc. has entered into a new financing agreement, Pre-Paid Purchase #3, with Avondale Capital, LLC. Under the terms of the agreement, Avondale paid $5 million to CXApp Inc., with the company agreeing to repay $5.25 million plus interest, fees, and any applicable charges at a rate of five percent per annum. The agreement features an original issue discount of $250,000 and remains unsecured, containing standard events of default, representations, warranties, and covenants. The arrangement also allows Avondale to receive shares of CXApp common stock in satisfaction of the outstanding balance, with a maximum of approximately 34.4 million shares issuable under the agreement, depending on the share price.
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