Inpixon Prices $9 Million Public Offering in an Effort to Satisfy Nasdaq’s Stockholders’ Equity Requirement
20 April 2018 - 11:25PM
Inpixon (NASDAQ:INPX), (the “Company” or “Inpixon”), a leading
indoor positioning and data analytics company, today announced
the pricing of a public offering with anticipated gross proceeds of
approximately $9 million, including the securities to be issued in
connection with the satisfaction of outstanding trade payables and
before deducting placement agent fees and other offering expenses.
The securities offered by the Company consist of Units, at a price
to the public of $1,000 per Unit, consisting of one share of the
Company’s Series 4 Convertible Preferred Stock, each convertible
into approximately 2,174 shares of common stock at a conversion
price of $0.46 and a warrant to purchase 2,174 shares of common
stock. The warrants will have an exercise price of $0.67 (subject
to adjustment to the exercise price and the number of warrant
shares in the event of recapitalization events, stock dividends,
stock splits, stock combinations, dilutive issuances,
reclassifications, reorganizations, or similar events), will be
exercisable upon issuance and will expire five years from the date
of issuance. The offering is expected to close on or about April
24, 2018, subject to customary closing conditions. In addition, the
Company may issue an additional $1.5 million in Units to
debtholders to satisfy trade payables.
Inpixon’s common stock is listed on the NASDAQ Capital Market
under the symbol “INPX”. The Company is conducting the offering in
order to regain compliance with Nasdaq Listing Rule 5550(b)(1),
which requires that listed companies maintain a minimum of $2.5
million in stockholders’ equity. The Company expects to use the net
proceeds of the offering for working capital and general corporate
purposes (including research and development, sales and marketing,
and the satisfaction of outstanding amounts payable to vendors in
connection with trade payables) and transaction expenses.
Roth Capital Partners is acting as the sole placement agent for
the offering on a “best efforts” basis.
The securities are being offered pursuant to an effective shelf
registration statement on Form S-3, as amended (File No.
333-204159), that was previously filed with the Securities and
Exchange Commission (“SEC”) and declared effective on May 28, 2015.
The securities may be offered only by means of a prospectus. A
preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the offering has been filed
with the SEC and is available on the SEC’s website at sec.gov.
Copies of the final prospectus supplement and accompanying
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC’s web site at sec.gov. and may also be
obtained from Roth Capital Partners at 888 San Clemente Dr., Suite
400, Newport Beach, Calif. 92660, +1 800-678-9147.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer, if at all, will be made only by means of a
preliminary prospectus and final prospectus forming a part of the
effective registration statement.
About InpixonInpixon (NASDAQ:INPX) is a leader
in Indoor Positioning Analytics (IPA). Inpixon 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 premises
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.
Cautionary Statement Regarding
Forward Looking StatementsAll
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, including
but not limited to statements regarding Inpixon’s expectations on
the completion, timing and size of the proposed public offering and
the anticipated use of proceeds therefrom. These forward-looking
statements are subject to a number of risks, including market
conditions related to the proposed public offering and the risk
factors set forth from time to time in Inpixon’s SEC filings,
including but not limited to the risks that are described in the
“Risk Factors” section of Inpixon’s Annual Report on Form 10-K for
the year ended December 31, 2017, and in the preliminary prospectus
supplement related to the proposed offering filed with the SEC,
each available on the SEC's web site at sec.gov. In addition to the
risks described above and in Inpixon’s other filings with the SEC,
other unknown or unpredictable factors also could affect Inpixon’s
results. No forward-looking statements can be guaranteed, and
actual results (including, without limitation, the ability to
complete this offering and generate the net proceeds necessary for
Inpixon to complete its business objectives) could differ
significantly from those contemplated by the forward-looking
statements. The information in this release is provided only as of
the date of this release, and Inpixon undertakes no obligation to
update any forward-looking statements contained in this release on
account of new information, future events, or otherwise, except as
required by law.
Contact
Inpixon Investor Relations:CORE IRScott Arnold,
Managing Director+1 516-222-2560coreir.com
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