PALO ALTO, Calif., Jan. 25, 2021 /PRNewswire/ -- Inpixon (Nasdaq:
INPX), the Indoor Intelligence™ company, today announced that it
has entered into a securities purchase agreement with a single
institutional investor to purchase 19,354,838 shares of common
stock (or pre-funded warrants in lieu thereof) and warrants to
purchase up to an aggregate of 19,354,838 shares of common stock at
a purchase price of $1.55 per share
(or $1.549 per pre-funded warrant)
and accompanying warrant in a registered direct offering priced
at-the-market under Nasdaq rules. The warrants have an
exercise price of $1.55 per share,
are exercisable immediately, and will expire five years following
the date of issuance.
Maxim Group LLC is acting as the sole placement agent in
connection with the offering.
The gross proceeds to Inpixon from the offering are expected to
be approximately $30.0 million before
deducting the placement agent's fees and other estimated offering
expenses. The use of proceeds from the offering may include,
but are not limited to, future acquisitions or other strategic
activities intended to accelerate the Company's growth. The
closing of the offering is expected to occur on or about
January 27, 2021 subject to the
satisfaction of customary closing conditions.
The securities described above are being offered pursuant to a
shelf registration statement on Form S-3 (333-223960), which was
declared effective by the United States Securities and Exchange
Commission ("SEC") on June 5,
2018. The offering of the shares of common stock, pre-funded
warrants, the warrants and the shares of common stock underlying
the pre-funded warrants and warrants will be made only by means of
a prospectus supplement that forms a part of the registration
statement. Copies of the final prospectus supplement and
accompanying prospectus relating to the registered direct offering
may be obtained, when available, by contacting Maxim Group LLC, 405
Lexington Avenue, 2nd Floor, New York,
NY 10174, or by telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Inpixon
Inpixon® (Nasdaq: INPX) is the Indoor Intelligence™ company that
focuses on capturing, interpreting and giving context to indoor
data so it can be translated into actionable intelligence. The
company's Indoor Intelligence platform ingests diverse data from
IoT, third-party and proprietary sensors designed to detect and
position active cellular, Wi-Fi, UWB and Bluetooth devices. Paired
with a high-performance data analytics engine, patented algorithms,
and advanced mapping technology, Inpixon's solutions are leveraged
by a multitude of industries to do well with indoor data. This
multidisciplinary depiction of indoor data enables users to
increase revenue, decrease costs, and enhance safety. Inpixon
customers can take advantage of location awareness, analytics,
sensor fusion and the Internet of Things (IoT) to uncover the
untold stories of the indoors. For the latest insights,
follow Inpixon on LinkedIn, Twitter, and
visit inpixon.com.
Safe Harbor Statement
All statements in this release that are not based on historical
fact are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and the provisions
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
While management has based any forward-looking statements included
in this release on its current expectations, the information on
which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties and other factors, many of which are outside of the
control of Inpixon and its subsidiaries, which could cause actual
results to materially differ from such statements. Such risks,
uncertainties, and other factors include, but are not limited to,
Inpixon's ability to satisfy customary closing conditions related
to the proposed offering, the fluctuation of economic conditions,
the impact of COVID-19 on Inpixon's results of operations,
Inpixon's ability to integrate the products and business from
recent acquisitions into its existing business, the performance of
management and employees, the regulatory landscape as it relates to
privacy regulations and their applicability to Inpixon's
technology, Inpixon's ability to maintain compliance with Nasdaq's
minimum bid price requirement and other continued listing
requirements, including during a panel monitoring period ending on
February 5, 2021, the ability to
obtain financing, competition, general economic conditions and
other factors that are detailed in Inpixon's periodic and current
reports available for review at www.sec.gov. Furthermore, Inpixon
operates in a highly competitive and rapidly changing environment
where new and unanticipated risks may arise. Accordingly, investors
should not place any reliance on forward-looking statements as a
prediction of actual results. Inpixon disclaims any intention to,
and undertakes no obligation to, update or revise forward-looking
statements.
Inpixon Contacts
Media relations and general inquiries:
Inpixon
Email: marketing@inpixon.com
Web: inpixon.com/contact-us
Investor relations:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: INPX@crescendo-ir.com
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SOURCE Inpixon