CXApp Inc. Files 8-K Amid Delisting Concerns
Ticker: CXAIW · Form: 8-K · Filed: Apr 19, 2024 · CIK: 1820875
| Field | Detail |
|---|---|
| Company | Cxapp Inc. (CXAIW) |
| Form Type | 8-K |
| Filed Date | Apr 19, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, 8-k
TL;DR
CXApp Inc. 8-K: Delisting notice filed, stock could be in trouble.
AI Summary
CXApp Inc. filed an 8-K on April 19, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as KINS Technology Group, Inc., was incorporated in Delaware and its fiscal year ends on December 31st. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates potential issues with CXApp Inc.'s continued listing on an exchange, which could impact its stock price and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can lead to severe stock price declines and reduced liquidity.
Key Players & Entities
- CXApp Inc. (company) — Registrant
- KINS Technology Group, Inc. (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
- April 19, 2024 (date) — Report date
- April 18, 2024 (date) — Earliest event reported
FAQ
What is the specific reason for CXApp Inc.'s notice of delisting or failure to satisfy a continued listing rule?
The provided text states that the filing is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing' but does not specify the exact rule or standard that was not met.
When was CXApp Inc. formerly known as KINS Technology Group, Inc. and when did the name change occur?
The filing indicates that the former company name was KINS Technology Group, Inc. and the date of the name change was August 12, 2020.
What is the primary business of CXApp Inc. according to its SIC code?
CXApp Inc. is classified under SIC code 7372, which corresponds to SERVICES-PREPACKAGED SOFTWARE.
Where is CXApp Inc. headquartered?
CXApp Inc.'s business and mailing address is located at Four Palo Alto Square, Suite 200, 3000 El Camino Real, Palo Alto, CA 94306.
What is the fiscal year end for CXApp Inc.?
CXApp Inc.'s fiscal year ends on December 31st.
Filing Stats: 1,043 words · 4 min read · ~3 pages · Grade level 13.8 · Accepted 2024-04-19 17:05:15
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share CXAI The Nasdaq Stock Mar
Filing Documents
- cxappinc_8k.htm (8-K) — 44KB
- 0001829126-24-002658.txt ( ) — 261KB
- cxai-20240418.xsd (EX-101.SCH) — 4KB
- cxai-20240418_def.xml (EX-101.DEF) — 26KB
- cxai-20240418_lab.xml (EX-101.LAB) — 36KB
- cxai-20240418_pre.xml (EX-101.PRE) — 25KB
- cxappinc_8k_htm.xml (XML) — 6KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing As previously disclosed in a Form 12b-25 Notification of Late Filing (the "Form 12b-25") filed by CXApp Inc. (the "Company") on March 29, 2024, the Company is delayed in filing its Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K") with the U.S. Securities and Exchange Commission (the "SEC"). On April 18, 2024, the Company received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, because the Company is delinquent in filing its 2023 Form 10-K, the Company no longer complies with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule"), which requires companies with securities listed on Nasdaq to timely file all required periodic reports with the SEC. The Notice has no immediate effect on the listing or trading of the Company's common stock or publicly traded warrants on the Nasdaq Global Select Market. In accordance with Nasdaq's listing rules, the Company has 60 calendar days after the Notice to submit a plan of compliance (the "Plan") to Nasdaq addressing how the Company intends to regain compliance with Nasdaq's listing rules, and Nasdaq has the discretion to grant the Company up to 180 calendar days from the due date of the 2023 Form 10-K, or October 14, 2024, to regain compliance. The Company intends to submit the Plan and take the necessary steps to regain compliance with Nasdaq's listing rules as soon as practicable. As previously disclosed, the filing of the 2023 Form 10-K was delayed due to the matters described in the Form 12b-25 and the Company's Current Report on Form 8-K filed with the SEC on April 16, 2024. While the Company can provide no assurances as to timing, the Company will continue to work diligently to complete and file the 2023 Form 10-K as soon as practicable within 60 days of the Notice. Caution Regarding Forward-Looking Statements This report c
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CXApp Inc. Date: April 19, 2024 By: /s/ Khurram P. Sheikh Name: Khurram P. Sheikh Title: Chairman and Chief Executive Officer 3