Inpixon Announces Filing of Form 10 Registration Statement for Planned Spin-Off
April 23 2018 - 9:00AM
Inpixon (NASDAQ:INPX), a leading indoor positioning and data
analytics company, today announced that the Form 10 Registration
Statement in connection with the planned spin-off of its
wholly-owned subsidiary, Inpixon USA (including its subsidiary,
Inpixon Federal, Inc.) (“Sysorex”), which is expected to be renamed
“Sysorex, Inc.” following the consummation of the transaction,
creating two distinct, publicly traded companies, has been filed
with the U.S. Securities and Exchange Commission.
The registration statement provides information regarding the
business, strategy, and historical financial results of Sysorex, as
well as further details on the anticipated terms of separation and
distribution, employment matters, and tax matters agreements
between Inpixon and Sysorex in connection with the planned
spin-off. Sysorex expects to update its registration statement in
subsequent amendments as additional information on the transactions
is finalized prior to the separation.
“A technology company and a value-added reseller (VAR) company
are two fundamentally different types of businesses. By separating
them into two independent entities, we can empower them to realize
their true potential with a single focus,” said Nadir Ali, Inpixon
Chief Executive Officer. “We believe this spin-off will provide
that opportunity. With this separation, Inpixon will be able to
invest its capital and resources towards enhancing and developing
its Indoor Positioning Analytics technology in order to deliver
faster innovations and grow its customer base. Sysorex, with its
own dedicated management team and resources, can concentrate its
efforts on pursuing distinct opportunities for procuring
third-party products and value-added services for commercial and
federal customers for long-term growth and profitability.”
Upon the completion of the spin-off transaction, Inpixon plans
to continue to focus its operations related to the development of
its Indoor Positioning Analytics technology and continue to trade
on the Nasdaq Capital Market under the ticker symbol “INPX.”
Sysorex plans to continue focusing on its business of providing
third-party hardware, software, and related maintenance and
warranty products and services that it resells to commercial and
government customers. Sysorex’s common stock is expected to be
quoted on the OTCQB market of the OTC Markets Group, Inc.
The spin-off of Sysorex is subject to final approval by
Inpixon’s Board of Directors, execution of intercompany agreements,
arrangement of financing, the effectiveness of the registration
statement, and other customary conditions.
A copy of the Form 10 Registration Statement is available for
review at sec.gov under the name “Inpixon USA.”
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor will there be
any sale of any securities in any state or other jurisdiction in
which such offer, solicitation, or sale is not permitted.
About InpixonInpixon (NASDAQ:INPX) is a leader
in Indoor Positioning Analytics (IPA). Inpixon sensors are designed
to find all accessible cellular, Wi-Fi, and Bluetooth devices
anonymously. Paired with a high-performance data analytics
platform, this technology delivers visibility, security, and
business intelligence on any commercial or government premises
worldwide. Inpixon’s products and professional services group help
customers take advantage of mobile, big data, analytics, and the
Internet of Things (IoT) to uncover the untold stories of the
indoors. For the latest insight on IPA, follow Inpixon on LinkedIn,
@InpixonHQ on Twitter, and visit inpixon.com.
About SysorexInpixon USA, to be renamed
“Sysorex, Inc.,” provides information technology and
telecommunications solutions and services to commercial and
government customers primarily in the United States. Sysorex’s goal
is to deliver right-fit information technology solutions that help
organizations reach their next level of business advantage. To that
end, Sysorex provides a variety of IT services and/or technologies
that enable customers to manage, protect, and monetize their
enterprise assets whether on-premises, in the cloud, or via
mobile.
Safe Harbor StatementAll 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 Act,
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,
the fluctuation of global economic conditions, the performance of
management and employees, the Company's ability to obtain
financing, competition, general economic conditions and other
factors that are detailed in the Company's periodic and current
reports available for review at sec.gov. Furthermore, we operate 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. We disclaim any intention to, and undertake no
obligation to, update or revise forward-looking statements.
ContactInpixon Investor
Relations:CORE IRScott Arnold, Managing Director+1
516-222-2560coreir.com
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