Connexa Sports Technologies Files S-1

TL;DR

Connexa Sports (CNXA) filed an S-1. Big news coming.

AI Summary

Connexa Sports Technologies Inc. (formerly Slinger Bag Inc.) filed an S-1 form on May 28, 2024. The company, incorporated in Delaware with its fiscal year ending April 30, is involved in sports technology manufacturing. Its business and mailing address are located at 2709 N Rolling Rd, Unit 138, New Windsor, DE 21244, with a contact phone number of (443) 407-7564. The filing is related to the Securities Act of 1933.

Why It Matters

This S-1 filing indicates a significant regulatory step for Connexa Sports Technologies, potentially related to a new offering or significant corporate action that requires SEC disclosure.

Risk Assessment

Risk Level: medium — S-1 filings often precede significant corporate events like stock offerings, which can introduce volatility and dilution risk.

Key Numbers

• 333-279744 — SEC File Number (Identifies this specific SEC filing)
• 20240528 — Filing Date (Date the S-1 was officially submitted)

Key Players & Entities

• Connexa Sports Technologies Inc. (company) — Filer of the S-1
• Slinger Bag Inc. (company) — Former name of Connexa Sports Technologies Inc.
• 20240528 (date) — Filing date of the S-1
• 333-279744 (dollar_amount) — SEC File Number
• 2709 N Rolling Rd, Unit 138, New Windsor, DE 21244 (company) — Business and mailing address
• (443) 407-7564 (dollar_amount) — Business phone number

FAQ

Key Financial Figures

• $0.001 — 0 shares of our common stock, par value $0.001 per share (the "Common Stock"), and (b)
• $315 — gregate gross proceeds of approximately $315. The selling stockholders will pay al
• $0.736 — price of shares of our Common Stock was $0.736 per share. Our board of directors and
• $500,000 — ndation Sports membership interests for $500,000 in cash. As of December 5, 2022, the re
• $41,413,892 — ion Sports discussed below, amounted to $41,413,892 in the year ended April 30, 2023. In
• $11,421,817 — 023, resulting in an impairment loss of $11,421,817. The Company previously classified Foun
• $56 million — u, or the "YYEM Seller," for a combined $56 million. The consummation of the transactions (
• $16,500,000 — ares of YYEM, for the purchase price of $16,500,000 (the "Share Purchase Consideration"), p
• $8,000,000 — of the Share Purchase Consideration (or $8,000,000) at the closing of the Share Purchase T
• $8,500,000 — of the Share Purchase Consideration (or $8,500,000) within two weeks of the closing date o
• $16.5 million — ansaction closed on March 20, 2024. The $16.5 million was paid in full as of April 3, 2024. A
• $5.2 million — acy Business' assets were approximately $5.2 million (which represents the assets of the Com
• $17.7 million — liabilities of the Legacy Business were $17.7 million (which represents the liabilities of th
• $7 million — 2024, minus, on a pro forma basis, the $7 million of liabilities converted into equity fr
• $5 million — ded, provide that aggregate payments of $5 million shall be made to the Company in cash by

Filing Documents

• forms-1.htm (S-1) — 3546KB
• ex5-1.htm (EX-5.1) — 15KB
• ex23-1.htm (EX-23.1) — 5KB
• ex107.htm (EX-FILING FEES) — 37KB
• forms-1_001.jpg (GRAPHIC) — 25KB
• forms-1_002.jpg (GRAPHIC) — 25KB
• forms-1_003.jpg (GRAPHIC) — 24KB
• forms-1_004.jpg (GRAPHIC) — 21KB
• forms-1_005.jpg (GRAPHIC) — 24KB
• audit_001.jpg (GRAPHIC) — 11KB
• audit_002.jpg (GRAPHIC) — 2KB
• ex5-1_001.jpg (GRAPHIC) — 4KB
• ex23-1_001.jpg (GRAPHIC) — 12KB
• 0001493152-24-021466.txt ( ) — 14109KB
• cnxa-20240131.xsd (EX-101.SCH) — 77KB
• cnxa-20240131_cal.xml (EX-101.CAL) — 94KB
• cnxa-20240131_def.xml (EX-101.DEF) — 470KB
• cnxa-20240131_lab.xml (EX-101.LAB) — 604KB
• cnxa-20240131_pre.xml (EX-101.PRE) — 504KB
• forms-1_htm.xml (XML) — 2083KB

USE OF PROCEEDS

USE OF PROCEEDS 50 MARKET PRICE OF AND DIVIDENDS ON COMMON STOCK AND RELATED STOCKHOLDER MATTERS 51

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 52 DESCRIPTION OF BUSINESS 62 DIRECTORS AND EXECUTIVE OFFICERS 84

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 89 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 92

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 93 SELLING STOCKHOLDERS 95

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 97 PLAN OF DISTRIBUTION 100 LEGAL MATTERS 101 EXPERTS 101 CHANGE IN CERTIFYING ACCOUNTANT 101 WHERE YOU CAN FIND MORE INFORMATION 101 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 i You should read this prospectus carefully before you invest. It contains important information you should consider when making your investment decision. You should rely only on the information provided in this prospectus. We have not authorized anyone to provide you with different information. The information in this document may only be accurate on the date of this document. You should assume that the information appearing in this prospectus is accurate only as of the date on the front cover of this prospectus. Our business, financial condition, results of operations and prospects may have changed since that date. We have not authorized anyone to provide any information or to make any representations other than those contained in or incorporated by reference in this prospectus or in any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the shares offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is accurate only as of its date regardless of the time of delivery of this prospectus or of any sale of shares of Common Stock. This prospectus contains summaries of certain provisions contained in some of the documents described herein, but reference is made to the actual documents for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of some of the documents referred to herein have been filed or will be filed, and you may obtain copies of those documents as described below under

Forward-Looking Statements and "Management's Discussion and Analysis of Financial Condition and Results of Operations,"

Forward-Looking Statements and "Management's Discussion and Analysis of Financial Condition and Results of Operations," as well as our consolidated financial statements and related notes included elsewhere in this prospectus. Unless otherwise indicated by the context, references to "Connexa," "Company," "we," "us," or "our" and similar terms refer to the operations of Connexa Sports Technologies Inc., Slinger Bag Inc., Slinger Bag Americas, Slinger Bag Canada, Slinger Bag UK, SBL and Gameface. Our fiscal year end is April 30 and our fiscal years ended April 30, 2023 and 2022 are sometimes referred to herein as fiscal years 2023 and 2022, respectively. On September 20, 2023, we filed a Certificate of Amendment to our Articles of Incorporation, as amended, to effect a one-for-forty (1-for-40) reverse stock split effective September 25, 2023. Unless otherwise stated, all share and per share information in this prospectus has been adjusted to reflect this reverse stock split. Our Company Overview The Company operates in the sports equipment and technology business. The Company is the owner of the Slinger Bag Launcher, which is comprised of a portable tennis ball launcher, a portable padel tennis ball launcher and a portable pickleball launcher and Gameface, providing AI technology and performance analytics for sports. Brief History Lazex Inc. ("Lazex") was incorporated under the laws of the State of Nevada on July 12, 2015. On August 23, 2019, the majority which was 100% owned by Slinger Bag Ltd. ("SBL"), an Israeli company. Effective September 13, 2019, Lazex changed its name to Slinger Bag Inc. On October 31, 2019, Slinger Bag Americas acquired control of Slinger Bag Canada, Inc., ("Slinger Bag Canada") a Canadian company incorporated on November 3, 2017. On February 10, 2020, Slinger Bag Americas became the 100% owner

View Full Filing

View this S-1 filing on SEC EDGAR