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Connexa Sports Technologies Inc. (CNXA) is a leading provider of innovative sports technology solutions, specializing in data analytics, performance tracking, and sports management software. The company's cutting-edge products empower athletes, coaches, and teams to enhance performance, optimize training, and achieve their full potential. With a strong focus on user-friendly interfaces and actionable insights, Connexa Sports Technologies is revolutionizing the sports industry. The company continues to expand its reach through strategic partnerships, research and development, and a relentless commitment to excellence.
Connexa Sports Technologies (NASDAQ: CNXA) has entered into a securities purchase agreement with an institutional investor for the sale of 12,820,512 shares of common stock at $0.39 each, along with warrants. The total expected gross proceeds from this private placement is approximately $5.0 million, intended for working capital and inventory repurchase. The offering is expected to close around September 30, 2022. Connexa has agreed to file a registration statement with the SEC by December 20, 2022, covering the resale of these shares and warrants.
Connexa Sports Technologies (NASDAQ: CNXA) announces a partnership with Lubbock Christian University (LCU) to integrate PlaySight's connected camera technology for live streaming and performance video. This initiative will enhance LCU's new Penny Gullo Tennis Center as the team embarks on its inaugural NCAA season in 2022-23. With PlaySight’s technology, LCU aims to improve player development and streaming capabilities for fans worldwide. Connexa Sports continues to focus on collegiate tennis, expanding its partnerships to elevate sports engagement.
Connexa Sports Technologies (NASDAQ: CNXA) announced on September 22, 2022, that it received a Notice Letter from Nasdaq for not filing its periodic reports on time, including the 2022 10-K and 2023 Q1 10-Q. The Company has until October 17, 2022, to submit a compliance plan. If accepted, it could receive up to 180 days, until February 13, 2023, to regain compliance. The Company aims to file the overdue reports by November 2022, and continues to work on completing these documents to meet SEC and Nasdaq obligations.
Connexa Sports Technologies announced an expansion in the NBA, now serving 18 teams with its PlaySight connected camera technology for practice and performance analysis. This platform has become essential for daily operations in player development and scouting. PlaySight has been integral since 2016, with installations of up to seven cameras per court. The technology enhances coaching efficiency and integration with other tools. The increasing reliance on PlaySight showcases its prominent role in sports technology innovation within professional and collegiate basketball.
Connexa Sports Technologies Inc. (NASDAQ: CNXA) announced on August 16, 2022, that it received a notification from Nasdaq regarding non-compliance with periodic filing requirements. The company's Form 10-K for the fiscal year ending April 30, 2022, was not filed by the August 13, 2022 deadline. Nasdaq granted Connexa 60 days to submit a compliance plan, with a potential extension of 180 days to file the 2022 10-K. Connexa plans to file the necessary documents by late September or early October 2022.
Connexa Sports Technologies Inc. (NASDAQ: CNXA) has appointed Kirk P. Taylor as an independent director, enhancing its leadership team with a focus on growth strategies and integration of three recent acquisitions. Taylor, who has extensive experience in financial reporting and public markets, believes his expertise will aid Connexa in its transition as a public company. He joins other recent appointees, Rohit Krishnan and Gabriel Goldman, on the board. This leadership change is expected to strengthen Connexa's operational foundation as it seeks to capitalize on digital disruption in the sports industry.
Connexa Sports Technologies has appointed Gabriel Goldman to its Board of Directors, marking the second appointment following Rohit Krishnan's addition last month. Goldman, a co-founder of Pileus, brings extensive experience in technology leadership and R&D management. His expertise in cloud-based systems and team building is expected to bolster Connexa's strategy in product innovation and global R&D efforts. Connexa aims to leverage its advanced technology platform to enhance sports engagement and monetization opportunities, with over 1 million users across its portfolio.
Connexa Sports Technologies (Nasdaq: CNXA) has partnered with the Rhineland Tennis Federation in Germany, becoming its Official Tennis Analytics Partner. The collaboration aims to integrate advanced technologies, including connected camera systems and AI-driven analysis, to support nearly 40,000 coaches and members. This partnership signifies Connexa's commitment to enhancing tennis performance and accessibility at all levels. CEO Mike Ballardie mentions this initiative as a blueprint for future collaborations within the tennis community.
Connexa Sports Technologies Inc. (Nasdaq: CNXA) has appointed Rohit Krishnan to its Board of Directors. Krishnan, a Venture Capitalist at Unbound, brings extensive experience in tech and financial services across various global markets. CEO Mike Ballardie expressed confidence that Krishnan's expertise will enhance Connexa Sports' connected technology strategy. With his background in both investing and entrepreneurship, Krishnan aims to integrate technologies and develop innovative products to capitalize on market opportunities.
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