Inpixon Prices $9 Million Public Offering in an Effort to Satisfy Nasdaq’s Stockholders’ Equity Requirement
PALO ALTO, Calif., April 20, 2018 (GLOBE NEWSWIRE) — Inpixon (NASDAQ:INPX), (the “Company” or “Inpixon”), a leading indoor positioning and data analytics company, today announced the pricing of a public offering with anticipated gross proceeds of approximately $9 million, including the securities to be issued in connection with the satisfaction of outstanding trade payables and before deducting placement agent fees and other offering expenses. The securities offered by the Company consist of Units, at a price to the public of $1,000 per Unit, consisting of one share of the Company’s Series 4 Convertible Preferred Stock, each convertible into approximately 2,174 shares of common stock at a conversion price of $0.46 and a warrant to purchase 2,174 shares of common stock. The warrants will have an exercise price of $0.67 (subject to adjustment to the exercise price and the number of warrant shares in the event of recapitalization events, stock dividends, stock splits, stock combinations, dilutive issuances, reclassifications, reorganizations, or similar events), will be exercisable upon issuance and will expire five years from the date of issuance. The offering is expected to close on or about April 24, 2018, subject to customary closing conditions. In addition, the Company may issue an additional $1.5 million in Units to debtholders to satisfy trade payables.
Inpixon’s common stock is listed on the NASDAQ Capital Market under the symbol “INPX”. […]