Inpixon (INPX)

[Werbe]

Wowzer!! $INPX oversubscribed offering!! Conversion @ $3.33! Something is up and this rocketship is fueled!

1.6 million OS

$3.7 million market cap

52-Wk Range
1.98 - 585.39

Inpixon to Receive $12.0 Million in Gross Proceeds from Oversubscribed Rights Offering

PALO ALTO, Calif. — Inpixon (Nasdaq:INPX) (the “Company”), a leading indoor positioning and data analytics company, today announced its previously announced rights offering (the “Rights Offering”) expired at 5:00 p.m. Eastern Time on Friday, January 11, 2019 and, as such, the rights have expired.

Participants are expected to be reduced pro-rata to the total offering size, which, was increased from 10,000 units to 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 the 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 Series 5 Convertible Preferred Stock and the warrants comprising the units will immediately separate upon the closing of the Rights Offering.

Investors who participated in the Rights Offering should expect to see the purchased securities in their account within the next three business days. Any excess subscription payments received by the subscription agent will be returned by the subscription agent to investors, without interest or penalty. No oversubscriptions were accepted.

Maxim Group LLC acted 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 [phone] (toll-free); or to Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate Department, email: [e-mail] or telephone: [phone].

A registration statement on Form S-3 relating to these securities has been filed by the Company with the SEC. The Rights Offering was only made by means of a prospectus supplement and accompanying prospectus. The prospectus supplement, as amended and supplement, relating to and describing the Rights Offering was filed with the SEC as a part of the registration statement and is available on the SEC’s web site.