SCHEDULE: Avondale Capital Discloses 9.99% Stake in CXApp Inc.

Avondale Capital, along with related entities and John M. Fife, reported a 9.99% beneficial ownership stake in CXApp Inc.'s Class A common stock.

Summary

• Avondale Capital, LLC, Streeterville Capital LLC, Streeterville Management, LLC, and John M. Fife collectively reported beneficial ownership of 2,860,068 shares of CXApp Inc.'s Class A common stock.
• This ownership represents 9.99% of the 28,629,315 shares outstanding as of November 11, 2025, as reported in CXApp Inc.'s 10-Q filed on November 12, 2025.
• The shares were acquired through rights under a series of Pre-Paid Purchases.
• The reporting persons are subject to a contractual ownership cap of 9.99% of the outstanding shares.
• The securities were not acquired and are not held for the purpose of changing or influencing the control of CXApp Inc., other than activities solely in connection with a nomination under Rule 240.14a-11.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership disclosure (Schedule 13G) and does not contain performance-related information or forward-looking statements from the issuer. It is a factual report of a significant stake.

Positives

• A significant institutional investor group has taken a substantial stake, potentially indicating confidence in CXApp Inc.'s future prospects.
• The stated intent is not to change or influence control, which may provide stability for current management and strategic direction.

Negatives

• No direct negatives for CXApp Inc. are presented in this beneficial ownership disclosure.

Risks

• The reporting persons' ownership is subject to a contractual cap of 9.99%, which could limit their ability to increase their stake further, regardless of future performance.
• The certification includes an exception for activities solely in connection with a nomination under Rule 240.14a-11, suggesting a potential for future shareholder engagement regarding board composition.

Future Outlook

This filing does not contain any forward-looking statements or guidance from CXApp Inc. regarding its future outlook.

Management Comments

• "To the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

This beneficial ownership disclosure is specific to CXApp Inc. and the reporting entities, and does not provide broader industry context or trends.

Related Party Transactions

• The filing clarifies the internal relationships among the reporting persons: Streeterville Capital LLC is the sole member of Avondale Capital, LLC, and Streeterville Management, LLC is the manager of Streeterville Capital, LLC. John M. Fife is associated with these entities and is a reporting person.

Stakeholder Impact

• Shareholders: The disclosure of a nearly 10% stake by an institutional investor group could be viewed as a positive signal of confidence in CXApp Inc. The contractual cap on ownership may limit potential for hostile takeovers.
• Management: The stated intent not to influence control, with the caveat of potential nomination activities, suggests a possibility of future engagement regarding board composition.

Next Steps

• Monitor any future Schedule 13D or 13G filings by Avondale Capital, Streeterville Capital, Streeterville Management, or John M. Fife for changes in their ownership stake or stated investment intent.
• Observe any potential shareholder engagement or nomination activities under Rule 240.14a-11.

Key Dates

Keywords

CXApp Inc., beneficial ownership, Schedule 13G, Class A common stock, institutional investor, Avondale Capital, Streeterville Capital, John M. Fife, equity stake, SEC filing