Response I got from IR about closing with Ostendo. Sounds like everything is on track. He didn’t say much other than referring me to the most recent PR. And I also asked about the trading activity and said company has no control over buys/sells.
Thank you for reaching out and for your interest in Sysorex. Unfortunately, we can't give out any more information other than what was already released. Below please find our update from our most recent press release.
Sysorex continues to work towards closing the transaction with Ostendo outlined in a Heads of Terms dated March 24, 2022 (filed on Form 8-K), with an anticipated closing date of May 24, 2022. The Company is principally selling its Upstate New York data center and approximately 75% of its GPU-based capacity currently being utilized for Ethereum mining in exchange for nearly $70,000,000 in book value equity. The addition of this equity value should substantially increase the Company´s shareholders’ equity and the Company sees future opportunities to collaborate with Ostendo as it undertakes commercial launch of its proprietary light field, quantum photonic semiconductor-chip-based augmented reality hardware, enriching the Metaverse.
In anticipation of the completion of the Ostendo transaction, as stated, the Company is in active discussions with several New York City-based investment banks to assist with the Company´s anticipated up-listing to a national stock exchange. The Company will include a listing process update in its next corporate communication. The Company is also exploring mechanisms related to the Ostendo securities or the balance of its GPU assets to drive additional value for Sysorex shareholders post-closing.
We at Sysorex do not have any control of the stock price and what happens to it, nor do we control who buys and who sells. Thank you for reaching out and please reach out with any other questions or comments you may have.
