PALO ALTO, Calif., Sep. 13, 2021 /PRNewswire/ -- Inpixon
(Nasdaq: INPX), the Indoor Intelligence™ company, today announced
that it has entered into a securities purchase agreement with
certain institutional investors to purchase 58,750 shares of Series
7 convertible preferred stock and warrants to purchase up to an
aggregate of 47,000,000 shares of common stock. Each share of
Series 7 convertible preferred stock and 800 warrants will have a
combined purchase price of $920,
representing an original issue discount of 8% of the stated value
of the Series 7 preferred stock. Each share of Series 7
convertible preferred stock will have a stated value of
$1,000 and is immediately convertible
into shares of Inpixon's common stock at an initial conversion
price of $1.25 per share. Total gross
proceeds, before deducting the placement agent's fees and other
estimated offering expenses, is approximately $54.1 million.
The Series 7 convertible preferred stock permit the holder to
vote on an as-converted basis with the holders of common stock.
The holders of the Series 7 convertible preferred stock have
the right to require the company to redeem their shares of
preferred stock for cash at the stated value after the 6-month
anniversary of issuance for a period of 90 days. The company also
has the right to redeem the preferred stock after the 6-month
anniversary for cash at the stated value, subject to certain
conditions, and force the conversion of the preferred stock if
certain price and trading conditions are met. The warrants will
have an exercise price of $1.25 per
share and will expire five years from the initial exercise date. If
shares of preferred stock are redeemed, 75% of the warrants issued
as a result of the purchase of such redeemed shares will be
forfeited.
The closing of the offering is expected to occur on or about
September 15, 2021, subject to the
satisfaction of customary closing conditions. Additional
information regarding the securities described above and the terms
of the offering are included in a Current Report on Form 8-K filed
with the United States Securities and Exchange Commission
("SEC").
Maxim Group LLC is acting as the sole placement agent in
connection with the offering.
The preferred stock, shares of common stock into which the
preferred stock is convertible and warrants described above are
being offered pursuant to a shelf registration statement on Form
S-3 (333-256827), which was declared effective by the SEC on
June 17, 2021. The offering
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, 300 Park Avenue, New
York, NY 10022, 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 innovator of Indoor
Intelligence™, delivering actionable insights for people, places
and things. Combining the power of mapping, positioning and
analytics, Inpixon helps to create smarter, safer, and more secure
environments. The company's Indoor Intelligence and mobile app
solutions are leveraged by a multitude of industries to optimize
operations, increase productivity, and enhance safety. Inpixon
customers can take advantage of industry leading location
awareness, RTLS, workplace and hybrid event solutions, analytics,
sensor fusion and the IoT to create exceptional experiences and to
do good with indoor data. 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, and
global supply chain constraints, 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, 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