PALO ALTO, Calif., Nov. 25, 2020 /PRNewswire/ -- Inpixon
(Nasdaq: INPX), the Indoor Intelligence™ company, today announced
that it has entered into a securities purchase agreement with an
accredited institutional investor to purchase 8,000,000 shares of
common stock (or pre-funded warrants in lieu thereof) and warrants
to purchase up to an aggregate of 8,000,000 shares of common stock
at a purchase price of $1.25 per
share (or $1.249 per prefunded
warrant) and accompanying warrant in a registered direct offering
with a single institutional investor priced at-the-market under
Nasdaq rules. The warrants have an exercise price of
$1.25 per share, are exercisable
immediately, and will expire five years following the date of
issuance.
Maxim Group LLC is acting as the sole placement agent in
connection with the offering.
The gross proceeds to Inpixon from the offering are expected to
be approximately $10.0 million before
deducting the placement agent's fees and other estimated offering
expenses. The proceeds of the offering may include, but are
not limited to, future acquisitions or other strategic activities
intended to accelerate the Company's growth. The closing of
the offering is expected to occur on or about November 30, 2020 subject to the satisfaction of
customary closing conditions.
The securities described above are being offered pursuant to a
shelf registration statement on Form S-3 (333-223960), which was
declared effective by the United States Securities and Exchange
Commission ("SEC") on June 5,
2018. The offering of the shares of common stock, pre-funded
warrants, the warrants and the common shares underlying the
pre-funded warrants and warrants 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, 405
Lexington Avenue, 2nd Floor, New York,
NY 10174, 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 Indoor Intelligence™ company that
focuses on capturing, interpreting and giving context to indoor
data so it can be translated into actionable intelligence. The
company's Indoor Intelligence platform ingests diverse data from
IoT, third-party and proprietary sensors designed to detect and
position active cellular, Wi-Fi, UWB and Bluetooth devices. Paired
with a high-performance data analytics engine, patented algorithms,
and advanced mapping technology, Inpixon's solutions are leveraged
by a multitude of industries to do well with indoor data. This
multidisciplinary depiction of indoor data enables users to
increase revenue, decrease costs, and enhance safety. Inpixon
customers can take advantage of location awareness, analytics,
sensor fusion and the Internet of Things (IoT) to uncover the
untold stories of the indoors. 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,
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, including during a panel monitoring period ending on
February 5, 2021, 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