MSK Clients Inpixon and Sysorex Announce Successfull Completion of Spin-off
MSK clients Inpixon (Nasdaq: INPX) and Sysorex, Inc. (OTC: SYSX) (“Sysorex”) this week announced that they successfully completed the spin-off of Sysorex including its IT solutions and professional services. As a result, Inpixon and Sysorex are now two separate publicly traded companies.
In connection with the transaction, on August 31, 2018, Inpixon distributed one share of Sysorex common stock for every three shares of Inpixon common stock to its stockholders (including holders of Series 4 Convertible Preferred Stock) and holders of outstanding warrants of record as of August 21, 2018 entitled to participate in the distribution.
Sysorex common stock began trading under the symbol “SYSX” on the OTC Markets on September 4, 2018 and has applied to have its common stock quoted on the OTCQB platform of the OTC Markets. Inpixon common stock continues to trade on the Nasdaq under the symbol “INPX”.
The MSK deal team was led by New York Managing Partner Melanie Figueroa and included Corporate & Business Transactions partner Mark Hiraide, and attorneys Mary Ann Sapone, Siyuan An and Blake Baron. MSK Tax partners Robin Gilden and Charles Kolstad, along with attorney Daniel Cousineau, also assisted with the tax review in connection with this transaction.
“We are very pleased to have assisted Inpixon and Sysorex in connection with this transaction which represents a significant milestone for both companies,” stated Ms. Figueroa. “We look forward to continuing to assist Inpixon and Sysorex following the transaction during this new phase in the growth and development of their businesses.”
Since 1908, Mitchell Silberberg & Knupp LLP (MSK) has proven its ability to understand the complex, demystify the mysterious, and define the unknown. With more than 130 lawyers and offices in Los Angeles, New York, and Washington, D.C., MSK is often distinguished as a “go-to” firm by industry and legal insiders, and has extensive experience in a variety of practice areas, including Entertainment & IP Litigation, International Disputes, Labor & Employment, Motion Picture, Television & Music Transactions, Immigration, Corporate Securities, Regulatory, Tax, Trusts & Estates, Real Estate and International Trade. Relentlessly innovative, our lawyers have developed groundbreaking legislation, established influential precedents, and shaped the legal landscape. For more information, visit www.msk.com.
Inpixon (Nasdaq: INPX) is a leader in Indoor Positioning Analytics (IPA). Inpixon IPA 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 location 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, visit inpixon.com.
Sysorex, Inc. provides information technology and telecommunications solutions and services to commercial and government customers primarily in the United States. Sysorex’s goal is to deliver right-fit information technology solutions that help organizations reach their next level of business advantage. To that end, Sysorex provides a variety of IT services and/or technologies that enable customers to manage, protect, and monetize their enterprise assets whether on-premises, in the cloud, or via mobile. For more information regarding Sysorex, please visit www.sysorexinc.com