Connexa Sports Technologies Enters Material Agreement

TL;DR

Connexa Sports (SLBG) signed a big deal on Jan 8th. Details to follow.

AI Summary

Connexa Sports Technologies Inc. entered into a material definitive agreement on January 8, 2025. The company, formerly known as Slinger Bag Inc., is incorporated in Delaware and has its principal executive offices in New Windsor, DE. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.

Why It Matters

This filing indicates a significant new development or contract for Connexa Sports Technologies, which could impact its business operations and financial performance.

Risk Assessment

Risk Level: medium — The filing reports a material definitive agreement, which could involve significant financial commitments or strategic shifts, carrying inherent business risks.

Key Numbers

• 1-41423 — SEC File Number (Identifies the company's filing with the SEC.)
• 61-1789640 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Connexa Sports Technologies Inc. (company) — Registrant
• Slinger Bag Inc. (company) — Former company name
• January 8, 2025 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• New Windsor (location) — City of business address

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share YYAI The Nasdaq Stock Mar
• $11,347,850 — ng an aggregate offering price of up to $11,347,850 from time to time through or to the Age
• $50,000 — es Agreement in an amount not to exceed $50,000 and up to an additional $20,000 per fis
• $20,000 — exceed $50,000 and up to an additional $20,000 per fiscal year for maintenance, and th

Filing Documents

• form8-k.htm (8-K) — 44KB
• 0001493152-25-002234.txt ( ) — 220KB
• cnxa-20250108.xsd (EX-101.SCH) — 3KB
• cnxa-20250108_lab.xml (EX-101.LAB) — 33KB
• cnxa-20250108_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 January 8, 2025 Date of Report (Date of earliest event reported) CONNEXA SPORTS TECHNOLOGIES INC. (Exact name of registrant as specified in its charter) Delaware 1-41423 61-1789640 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 2709 N. Rolling Road , Suite 138 Windsor Mill Baltimore , MD 21244 (Address of principal executive offices) (443) 407-7564 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share YYAI The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 1.01 Entry into a Material Definitive Agreement. On January 8, 2025, Connexa Sports Technologies Inc., a Delaware corporation (the " Company ") entered into a sales agreement with A.G.P./Alliance Global Partners (the " Agent "), pursuant to which the Company may sell from time to time, at its option, shares of the Company's common stock through or to the Agent, as sales agent or principal. The issuance and sale, if any, of shares of the Company's common stock under the Sales Agreement will be pursuant to the Company's registration statement on Form S-3 (File No. 333- 279880) (the " Registration Statement "), filed with the Securities and Exchange Commission (the " SEC ") on January 8, 2025 and are described in detail in the related base prospectus and prospectus supplement included as part of the Registration Statement. In accordance with the terms of the Sales Agreement, under the prospectus supplement, the Company may offer and sell shares of its common stock having an aggregate offering price of up to $11,347,850 from time to time through or to the Agent. The sale, if any, of shares of the Company's common stock under the Sales Agreement will be made by any method permitted that is deemed to be an "at-the-market" equity offering as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the " Securities Act "), including sales made directly on the Nasdaq Capital Market or any other trading market for the Company's common stock. Subject to the terms and conditions of the Sales Agreement, the Agent will use commercially reasonable efforts to sell the shares of the Company's common stock from time to time, based on the Company's instructions. The compensation payable to the Agent as sales agent shall be 3.0% of the gross proceeds from each sale of the shares through or to the Agent pursuant to the Sales Agreement. In addition, the Company will reimburse the Agent for certain out-of-pocket costs and expenses incurred in connection with the Sales Agreement in an amount not to exceed $50,000 and up to an additional $20,000 per fiscal year for maintenance, and the Company has agreed in the Sales Agreement to provide indemnification and contribution to the Agent against certain liabilities, including liabilities under the Securities Act. The Company is not obligated to make any sales of shares of common stock under the Sales Agreement. The Sales Agreement shall automatically terminate upon the earlier to occur of (i) issuance and sale of all of the common stock having an aggregate offering price of up to $11,347,850 to or through the Sales Agent and (ii) the expiration of the Registration Statement on the third anniversary of the initial effective date of the Registration Statement pursuant to Rule 415(a)(5) under the Securities Act, unless earlier terminated upon (a) the election of the Agent upon the occurrence of certain adverse events, (b) five days' advance notice from th

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