Inpixon to Receive $12.0 Million in Gross Proceeds from Oversubscribed Rights Offering
January 14 2019 - 8:30AM
Inpixon (Nasdaq:INPX) (the “Company"), a leading indoor positioning
and data analytics company, today announced its previously
announced equity subscription rights offering (the “Rights
Offering”) expired at 5:00 p.m. Eastern Time on Friday, January 11,
2019 and, as such, the rights are no longer exercisable.
Participants are expected to be reduced pro-rata
to the total offering size of 12,000 units. Preliminary
estimates indicate that the Company will raise gross proceeds of
approximately $12.0 million. The results of the Rights Offering and
estimates regarding gross proceeds are subject to finalization and
verification by the Company’s subscription agent.
Inpixon anticipates that the closing of the
Rights Offering will occur on or about January 15, 2019 subject to
satisfaction or waiver of all conditions to closing. Upon the
closing, the subscription agent will distribute, by way of direct
registration in book-entry form or through the facilities of DTCC,
as applicable, shares of Series 5 Convertible Preferred Stock and
warrants to purchase common stock to holders of rights who have
validly exercised their rights and paid the subscription price in
full.
Each right entitled the holder to purchase one
unit at a subscription price of $1,000 per unit, 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 units will immediately split
into their underlying securities.
Investors who participated in the Rights
Offering should expect to see the purchased securities in their
account within the next three business days. Additionally, the
balance of funds that were not allocated due to the
oversubscription of the Rights Offering will be returned to
participants via the method the participant used to fund its
subscription within the next three business days. No
oversubscriptions were accepted.
Inpixon engaged Maxim Group LLC as
dealer-manager for the rights offering. Questions about the
rights offering or requests for the prospectus supplement 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 has been filed by the Company with the SEC.
The rights offering will only be made by means of a prospectus
supplement and accompanying prospectus. A prospectus
supplement relating to and describing the proposed terms of the
rights offering has been 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 exercise of the rights being offered pursuant to the rights
offering, the completion of the rights offering, fluctuation of
global 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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