Inpixon (INPX)

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Inpixon Announces Reverse Stock Split for NASDAQ Compliance

Source: GlobeNewswire Inc.?

Inpixon (NASDAQ:INPX), a leading indoor data company that specializes in delivering indoor intelligence, today announced that the Company’s Board of Directors has approved a reverse stock split of the Company’s common stock whereby every forty-five (45) shares of its outstanding common stock will automatically be combined into one (1) share of common stock. The reverse split was approved by the Company’s shareholders on November 15, 2019 and will be effective as of the commencement of trading on January 7, 2020. At such time, the common stock will also commence trading with a new CUSIP number, 45790J800. The reverse stock split is being implemented for the purpose of complying with the closing bid price requirement in Nasdaq Listing Rule 5550(a)(2). The Company’s continued listing is subject to the written decision of the Nasdaq hearings panel following an appeal hearing.
In accordance with the reverse stock split, each stockholder’s percentage ownership interest in Inpixon will remain unchanged. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of common stock.
Nadir Ali, CEO of Inpixon, commented, “As we continue to make progress executing on our business model and growing our commercial and government customer base in the U.S. and around the world, in addition to addressing our bid price compliance issue, we believe the higher stock price resulting from the reverse split will enable us to attract a broader audience of open market investors. We look forward to an exciting 2020 and providing further updates.”
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