The eve se stock split is expected to become effective at 12:01 a.m. Easte Time o
The p i cipal objective of the eve se stock split is to i c ease the pe -sha e ma ket p ice of CXAI’s commo stock a d suppo t the Compa y’s effo ts to egai complia ce with Nasdaq’s mi imum bid-p ice equi eme t.
CXAI’s stockholde s autho ized the Boa d, at its disc etio , to app ove a eve se stock split at a atio betwee 1-fo -5 a d 1-fo -100 at the Compa y’s A ual Meeti g of Stockholde s held o Ju e 16, 2026. The Boa d subseque tly app oved the defi itive atio of 1-fo -50.
“CXAI has evolved i to a sig ifica tly b oade e te p ise AI compa y, with a expa ded ecu i g- eve ue base, g eate custome each a d a g owi g platfo m fo deployi g AI-powe ed solutio s ac oss e te p ise a d mid-ma ket o ga izatio s,” said
At the effective time, eve y 50 sha es of CXAI commo stock issued a d outsta di g will automatically be combi ed i to o e sha e of commo stock.
Based o app oximately 116,870,315 sha es outsta di g immediately befo e the eve se stock split, app oximately 2,337,407 sha es a e expected to be outsta di g immediately followi g the eve se stock split, subject to the t eatme t of f actio al sha es.
The eve se stock split will affect all stockholde s u ifo mly a d will ot alte a y stockholde ‘s pe ce tage ow e ship i te est i the Compa y, except to the exte t esulti g f om the t eatme t of f actio al sha es.
The eve se stock split will ot cha ge the pa value of the Compa y’s commo stock, which will emai $0.0001 pe sha e.
P opo tio ate adjustme ts will be made, i acco da ce with thei applicable te ms, to:
Outsta di g stock optio s a d othe equity awa ds;
Sha es available fo issua ce u de the Compa y’s equity-i ce tive pla s;
Outsta di g wa a ts a d othe ights to acqui e commo stock;
The umbe of sha es issuable u de such secu ities; a d
Applicable exe cise o co ve sio p ices.
The Compa y has outsta di g wa a ts to pu chase sha es of Commo Stock (the “Public Wa a ts”), which t ade o The Nasdaq Stock Ma ket LLC u de the symbol “CXAIW.” As a esult of the Reve se Stock Split, i acco da ce with the te ms of the Wa a t Ag eeme t, dated as of Decembe 14, 2020, (i) the exe cise p ice pe sha e of Commo Stock issuable upo exe cise of the Public Wa a ts will i c ease f om $11.50 to $575.00, a d (ii) each Public Wa a t will become exe cisable fo 1/50th of a sha e of Commo Stock. No f actio al sha es will be issued upo exe cise of the Public Wa a ts; f actio al sha es will be ou ded dow to the ea est whole sha e i acco da ce with the Wa a t Ag eeme t. The Compa y has di ected its wa a t age t to delive w itte otice of these adjustme ts to the egiste ed holde s of the Public Wa a ts.
No f actio al sha es will be issued i co ectio with the eve se stock split. A stockholde who would othe wise be e titled to eceive a f actio al sha e will have that f actio al i te est ou ded up to the ext whole sha e, subject to the te ms app oved by the Boa d a d applicable law.
Stockholde s holdi g sha es elect o ically i book-e t y fo m o th ough a ba k, b oke o othe omi ee a e ot expected to take a y actio to eceive thei post-split sha es. Thei accou ts will be adjusted automatically to eflect the eve se stock split, subject to the p ocesses of thei espective ba ks, b oke s o omi ees.
Registe ed stockholde s holdi g physical stock ce tificates will eceive i st uctio s f om the Compa y’s t a sfe age t, Co ti e tal Stock T a sfe & T ust Compa y, ega di g the excha ge of thei ce tificates. Stockholde s should ot se d ce tificates to the Compa y o the t a sfe age t u til they eceive specific i st uctio s.
Additio al i fo matio ega di g the eve se stock split will be i cluded i a Cu e t Repo t o Fo m 8-K to be filed by the Compa y with the U.S. Secu ities a d Excha ge Commissio .
CXAI is a e te p ise age tic AI platfo m compa y focused o helpi g o ga izatio s imp ove p oductivity, automate wo kflows a d e ha ce busi ess pe fo ma ce th ough a tificial i tellige ce.
The Compa y’s platfo m combi es ope atio al i tellige ce, a alytics, wo kplace tech ologies a d i tellige t automatio to delive measu able busi ess outcomes ac oss e te p ise a d mid-ma ket o ga izatio s.
CXAI se ves custome s ac oss tech ology, fi a cial se vices, healthca e, media a d othe i dust ies while expa di g its AI capabilities th ough both o ga ic g owth a d st ategic acquisitio s.
CXApp I c.:
This p ess elease i cludes “fo wa d-looki g stateme ts” withi the mea i g of the “safe ha bo ” p ovisio s of the P ivate Secu ities Litigatio Refo m Act of 1995. The expectatio s, estimates, a d p ojectio s of the Compa y may diffe f om its actual esults a d co seque tly, you should ot ely o these fo wa d-looki g stateme ts as p edictio s of futu e eve ts. Wo ds such as “expect,” “estimate,” “p oject,” “budget,” “fo ecast,” “a ticipate,” “i te d,” “pla ,” “may,” “will,” “could,” “should,” “believes,” “p edicts,” “pote tial,” “co ti ue,” o the egative o othe va iatio s the eof a d simila exp essio s a e i te ded to ide tify such fo wa d looki g stateme ts. These fo wa d-looki g stateme ts i clude, without limitatio , expectatio s with espect to futu e pe fo ma ce of the Compa y, i cludi g p ojected fi a cial i fo matio (which is ot audited o eviewed by the Compa y’s audito s), a d the futu e pla s, ope atio s a d oppo tu ities fo the Compa y a d othe stateme ts that a e ot histo ical facts. These stateme ts a e based o the cu e t expectatio s of the Compa y’s ma ageme t a d a e ot p edictio s of actual pe fo ma ce. These fo wa d-looki g stateme ts i volve sig ifica t isks a d u ce tai ties that could cause the actual esults to diffe mate ially f om the expected esults. Facto s that may cause such diffe e ces i clude, but a e ot limited to: the dema d fo the Compa y’s se vices togethe with the possibility that the Compa y may be adve sely affected by othe eco omic, busi ess, a d/o competitive facto s o cha ges i the busi ess e vi o me t i which the Compa y ope ates; cha ges i co sume p efe e ces o the ma ket fo the Compa y’s se vices; cha ges i applicable laws o egulatio s; the availability o competitio fo oppo tu ities fo expa sio of the Compa y’s busi ess; difficulties of ma agi g g owth p ofitably; the loss of o e o mo e membe s of the Compa y’s ma ageme t team; loss of a majo custome a d othe isks a d u ce tai ties i cluded f om time to time i the Compa y’s epo ts (i cludi g all ame dme ts to those epo ts) filed with the Secu ities a d Excha ge Commissio . The Compa y cautio s that the fo egoi g list of facto s is ot exclusive. You should ot place u due elia ce upo a y fo wa d-looki g stateme ts, which speak o ly as of the date made. The Compa y does ot u de take o accept a y obligatio o u de taki g to elease publicly a y updates o evisio s to a y fo wa d-looki g stateme ts to eflect a y cha ge i its expectatio s o a y cha ge i eve ts, co ditio s, o ci cumsta ces o which a y such stateme t is based, except as equi ed by law. These fo wa d-looki g stateme ts should ot be elied upo as ep ese ti g the Compa y’s assessme ts as of a y date subseque t to the date of this commu icatio .
