SCHEDULE: Wolverine Entities Disclose Passive Stake in CXApp Inc.

Wolverine Asset Management and related entities report passive beneficial ownership of less than 5% in CXApp Inc. Class A common stock.

Summary

• Wolverine Asset Management LLC reported beneficial ownership of 1,035,828 shares of CXApp Inc. Class A common stock, representing 4.42% of the class.
• Wolverine Trading Partners, Inc., Wolverine Holdings, L.P., Christopher L. Gust, and Robert R. Bellick each reported beneficial ownership of 1,042,043 shares, representing 4.44% of the Class A common stock.
• All reporting persons hold shared voting and dispositive power over their respective reported shares.
• The ownership percentages are calculated based on 23,435,234 Class A common shares outstanding as of August 12, 2025, as reported by CXApp Inc. in its Form 10-Q.
• This filing is an Amendment No. 1 to a Schedule 13G, indicating a change in previously reported passive beneficial ownership.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership disclosure (Schedule 13G) indicating passive investment, which is neutral in terms of company performance or strategic direction.

Positives

• The disclosure confirms institutional investor interest in CXApp Inc. through the passive holdings of Wolverine Asset Management and its affiliates.

Negatives

• No specific negative operational or financial information is disclosed in this beneficial ownership filing.

Risks

• This beneficial ownership filing does not detail specific company-related operational or financial risks for CXApp Inc.

Future Outlook

This filing, a Schedule 13G, does not contain any forward-looking statements or guidance regarding CXApp Inc.'s future outlook.

Industry Context

This Schedule 13G filing primarily concerns beneficial ownership disclosure and does not provide specific details on broader industry trends or competitive landscape for CXApp Inc.

Stakeholder Impact

• Shareholders: Provides transparency regarding the composition of the institutional shareholder base.
• Market: Confirms the continued passive investment interest from Wolverine entities in CXApp Inc.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of passive beneficial ownership by institutional investors. It does not contain operational or financial performance data that would warrant a change in investment thesis. The presence of institutional holders like Wolverine Asset Management can be viewed as a neutral to slightly positive factor for stability, suggesting a 'hold' recommendation based solely on this filing.

Keywords

CXApp Inc., Class A common stock, Schedule 13G, beneficial ownership, Wolverine Asset Management, institutional investor, passive investment