Inpixon Closes Oversubscribed Rights Offering with Gross Proceeds of $12.0 Million
January 15 2019 - 4:15PM
Inpixon (Nasdaq:INPX) (the “Company"), a leading indoor positioning
and data analytics company, today announced the closing of its
oversubscribed rights offering (the “Rights Offering”) for
aggregate gross proceeds to the Company of $12.0 million, which was
the maximum amount allowable under the terms of the Rights
Offering.
Participants were reduced pro-rata to the total
offering size, which was increased from 10,000 units to 12,000
units.
Inpixon sold an aggregate of 12,000 units
consisting of one share of Series 5 Convertible Preferred Stock
with a stated value of $1,000 (and immediately convertible into
shares of Inpixon’s common stock at a conversion price of $3.33 per
share) and 300 warrants to purchase Inpixon’s common stock with an
exercise price of $3.33 per share. The warrants will be exercisable
for 5 years after the date of issuance. The Series 5
Convertible Preferred Stock and the warrants comprising the units
immediately separated upon the closing of the Rights
Offering. Any excess subscription payments received by the
subscription agent will be returned by the subscription agent to
investors, without interest or penalty.
Maxim Group LLC acted as Dealer Manager for the
Rights Offering. Questions about the rights offering or
requests for the prospectus supplements and accompanying prospectus
may be directed to Broadridge Corporate Issuer Solutions, Inc.,
Inpixon’s information and subscription agent for the Rights
Offering, by calling (888) 789-8409 (toll-free); or to Maxim Group
LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate
Department, email: syndicate@maximgrp.com or telephone: (212)
895-3745.
A registration statement on Form S-3 relating to
these securities was filed by the Company with the SEC. The
Rights Offering was only made by means of a prospectus supplement
and accompanying prospectus. The prospectus supplement, as amended
and supplemented, relating to and describing the Rights Offering
was filed with the SEC as a part of the registration statement and
is available on the SEC’s web site.
About Inpixon
Inpixon (INPX) is a leader in Indoor Positioning
Analytics (IPA). Inpixon IPA 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 location 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.
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,
the fluctuation of economic conditions, the performance of
management and employees, Inpixon’s 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 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.
Contact
Inpixon Investor Relations:CORE IRScott Arnold,
Managing Director+1 516-222-2560www.coreir.com
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