MSK Client Inpixon Closes Oversubscribed Rights Offering with Gross Proceeds of $12M
MSK client Inpixon (Nasdaq:INPX) (the “Company"), a leading indoor positioning and data analytics company, today announced the closing of its oversubscribed rights offering (the “Rights Offering”) for aggregate gross proceeds to the Company of $12.0 million, which was the maximum amount allowable under the terms of the Rights Offering.
Inpixon sold an aggregate of 12,000 units 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, exercisable for 5 years after the date of issuance.
Maxim Group LLC acted as Dealer Manager for the Rights Offering and Roth Capital Partners acted as a financial advisor in connection with the offering. MSK served as legal counsel for Inpixon. The MSK deal team was led by New York Managing Partner Melanie Figueroa (pictured) and included Corporate & Business Transactions attorneys Blake Baron, Siyuan An, and Latore Price. MSK Tax partners Robin Gilden and Jeff Davine, along with attorney Andrew Park, also assisted with the tax review in connection with this transaction.
“We are so pleased to have assisted Inpixon in connection with another successful transaction,” stated Ms. Figueroa. “The success of this offering evidences the support of Inpixon’s existing equity holders as it continues to develop its technology and execute on its growth strategy and business plan.”
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Inpixon (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, follow Inpixon on LinkedIn, @InpixonHQ on Twitter, and visit inpixon.com.