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Inpixon (NASDAQ:INPX) extends rights offer period to Jan. 11

Tony Zerucha

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Inpixon (NASDAQ:INPX), an indoor positioning and data analytics company, has completed the initial rights offering period and will be extending the subscription period until 5:00 PM Eastern time on Jan. 11, 2019.

All record holders of rights that wish to participate in the rights offering must deliver a properly completed and signed subscription rights statement, together with payment of the subscription price for both basic subscription rights and any over subscription privilege election for delivery no later than 5:00 PM Eastern Time on Jan. 11, 2019 to the Subscription Agent:

By mail: 

Broadridge Corporate Issuer Solutions, Inc.

Attn: BCIS Re-Organization Dept.

P.O. Box 1317

Brentwood, New York 11717-0693

(888) 789-8409 (toll free)

 

By hand or overnight courier:

Broadridge Corporate Issuer Solutions, Inc.

Attn: BCIS IWS

51 Mercedes Way

Edgewood, New York 11717

(888) 789-8409 (toll free)

 

Under the rights offering, Inpixon distributed one non-transferable subscription right for each share of common stock, preferred stock and each participating warrant (on an as-if-converted-to-common-stock basis) held on the record date. The subscription rights are exercisable for up to an aggregate of $10.0 million of units, subject to increase at the company’s discretion, with aggregate participation to be allocated among holders, subject to certain participation rights, on a pro rata basis if in excess of that threshold.

Each right entitles 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 $5.00 per share) and 200 warrants to purchase Inpixon’s common stock with an exercise price of $5.00 per share.

The warrants will be exercisable for five years after the date of issuance.  Inpixon has applied to list the warrants on the Nasdaq Capital Market, although there is no assurance that a sufficient number of subscription rights will be exercised so that the warrants will meet the minimum listing criteria to be accepted for listing on the Nasdaq Capital Market under the symbol “INPXW.”

Holders who fully exercise their basic subscription rights will be entitled, if available, to subscribe for an additional amount of units that are not purchased by other holders, on a pro rata basis and subject to the $10.0 million aggregate offering threshold and other ownership limitations.  The subscription rights are non-transferable and may only be exercised during the anticipated subscription period which opened on Dec. 7, 2018 and now expires at 5:00 PM ET on Jan. 11, 2019 (unless extended).

The material is not to be construed as an offer or a recommendation to buy or sell a security. See full Terms of Service.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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