MSK Represents Client Inpixon in $18M Public Offering
MSK represented Inpixon (NASDAQ: INPX) (the “Company”), a leading indoor positioning and data analytics company, in connection with its recently announced public offering pursuant to which Inpixon will receive gross proceeds of approximately $18 million, before deducting placement agent fees and other offering expenses. MSK’s New York Managing Partner Melanie Figueroa served as lead counsel to Inpixon in the offering.
The securities offered by the Company consisted of (i) Class A Units, at a price to the public of $2.35 per unit, consisting of one share of the Company’s common stock and a warrant to purchase one share of common stock, and (ii) Class B Units, at a price to the public of $1,000 per unit, consisting of one share of the Company’s Series 3 Convertible Preferred Stock, which is convertible into approximately 426 shares of common stock, and warrants exercisable for the number of shares of common stock into which the shares of Series 3 Convertible Preferred Stock are convertible. The warrants will have an exercise price of $3.50 (subject to adjustment to the exercise price and the number of warrant shares in the event of recapitalization events, stock dividends, stock splits, stock combinations, dilutive issuances, reclassifications, reorganizations or similar events), exercisable upon issuance and expiring five years from the date of issuance. The net proceeds of the offering will be used for working capital and general corporate purposes, including research and development, sales and marketing, and to support a divesture of the Company’s infrastructure business segment.
Roth Capital Partners acted as the sole placement agent for the offering on a “best efforts” basis. Maxim Group LLC acted as a financial advisor in connection with the offering.
The MSK team also included MSK partner and Vice Chairman Nimish Patel, as well as associates Gabrielle Napolitano, Latore Price, and Blake Baron of the firm’s New York Office.
“Inpixon has been a client of ours since the completion of its initial IPO in 2014,” stated Ms. Figueroa. “The company has announced an exciting product development roadmap for its Indoor Positioning Analytics platform that includes the use of blockchain technology to secure device reputation, artificial intelligence for amassing anonymous device information and a voice-assisted analytics interface. We are extremely pleased to not only have assisted the company with this financing, but also to be a part of Inpixon’s journey over the last few years. We look forward to continuing our support and work with Inpixon through their continued growth and development.”
About MSK
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.
About Inpixon
Inpixon (NASDAQ: INPX) is a leader in Indoor Positioning and Data Analytics. Inpixon 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 premises worldwide. Inpixon’s products, infrastructure solutions, 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 Indoor Positioning and Data Analytics, follow Inpixon on LinkedIn, @InpixonHQ on Twitter, and visit inpixon.com.