Inpixon sets Aug. 21 as record date for Sysorex spinoff
Inpixon announced its board of directors has established an August 21, 2018 record date for the previously announced spin-off of all of the outstanding common stock of Sysorex, Inc., its value added reseller division. The dividend will be payable to Inpixon stockholders as of the close of business on the record date, in the ratio of one share of Sysorex common stock for every three shares of Inpixon common stock held or issuable upon complete conversion of the preferred stock or exercise of certain warrants outstanding as of the record date. Inpixon expects to complete the distribution on August 31, 2018. The distribution of Sysorex's shares will be made in book entry form, which means no physical stock certificates representing Sysorex common stock will be issued. The Sysorex spin-off has been structured to qualify as a tax-free distribution to U.S. holders of Inpixon common and preferred stock for U.S. federal income tax purposes. If cash is received in lieu of fractional shares, it will, however, be taxable. Participating Holders should consult their tax advisors with respect to the U.S. federal, state, local and non-U.S. tax consequences of the Sysorex spin-off.