PALO ALTO, Calif., March 22, 2022 /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 53,198 shares of Series
8 convertible preferred stock and warrants to purchase up to an
aggregate of 112,778,723 shares of common stock. Each share of
Series 8 convertible preferred stock and 2,120 warrants will have a
combined purchase price of $940,
representing an original issue discount of 6% of the stated value
of the Series 8 preferred stock. Each share of Series 8 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
$0.4717 per share. Total gross
proceeds, before deducting the placement agent's fees and other
estimated offering expenses, is approximately $50.0 million.
The Series 8 convertible preferred stock permit the holder to
vote on an as-converted basis with the holders of common stock. The
holders of the Series 8 convertible preferred stock have the right
to require the company to redeem their shares of preferred stock
for cash at the stated value at any time beginning on October 1, 2022, and ending ninety (90) days
thereafter. The company also has the right to redeem the preferred
stock beginning on October 1, 2022,
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 $0.4717 per share, are
immediately exercisable, and will expire five years from the
initial exercise date. If shares of preferred stock are redeemed,
50% 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
March 24, 2022, 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 to be
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, IIoT 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 and other global events 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 if needed,
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