| Over a month ago | ||||
Inpixon announced that it… Inpixon announced that it has received an order for its real-time location system products from a global provider of transportation and industrial products and services. The purchase order is valued at over $1M and covers an approximately 18-month period. The RTLS products will be used in products that provide proximity awareness and collision avoidance for worker safety in industrial operations. | ||||
KINS Technology Group… KINS Technology Group announced that its stockholders have approved an extension of the date by which the Company must consummate a business combination from December 16, 2022 to June 15, 2023 at the special meeting of stockholders held on December 9, 2022. The Extension provides KINS with additional time to complete the previously announced proposed business combination with CXApp Holding Corp. KINS Capital LLC, the sponsor, will contribute to the Company as a loan $0.04 for each share of Class A Common Stock that is not redeemed in connection with the stockholder vote to approve the Extension for each month until the earlier of the date of the stockholder meeting held in connection with the stockholder vote to approve the Business Combination, or the date that $225,000 has been loaned. The Company previously extended the period of time it has to consummate its initial business combination from June 17, 2022 to December 16, 2022. On September 25, 2022, KINS entered into a definitive business combination agreement pursuant to which it would acquire CXApp and its workplace experience app platform and technologies, indoor mapping, events platform, augmented reality and related business solutions in exchange for 6.9 million shares of KINS capital stock valued at $69 million. Upon the closing of the Business Combination, which is expected in early first quarter of 2023, the combined company will be re-named CXApp Inc. and plans to list on Nasdaq, under the new ticker symbol, "CXAI." | ||||
| Over a quarter ago | ||||
Inpixon announced that it… Inpixon announced that it received notice from Nasdaq on November 1, 2022 that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550. In order to regain compliance, the Company's common stock was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. | ||||
Inpixon announced that it… Inpixon announced that it has entered into a securities purchase agreement with a single institutional investor to purchase approximately $15M of its shares of common stock and warrants to purchase common stock in a registered direct offering priced at-the-market under Nasdaq rules. The combined purchase price for one share of common stock and associated warrants will be $5.85 and the combined purchase price for the pre-funded warrants and associated warrants will be $5.849. Under the terms of the securities purchase agreement, Inpixon has agreed to sell 2,564,102 shares of common stock and warrants to purchase up to an aggregate of 3,846,153 shares of common stock. The pre-funded warrants will be immediately exercisable at a nominal exercise price of $0.001 per share and may be exercised at any time until all of the pre-funded warrants are exercised in full. The warrants will be immediately exercisable, will expire five years from the date of issuance and will have an exercise price of $5.85 per share of common stock. The offering is expected to close on or about October 20, 2022, subject to the satisfaction of customary closing conditions. Maxim Group LLC is acting as the sole placement agent in connection with the offering. | ||||
Inpixon announced that… Inpixon announced that the company has secured numerous new purchase orders since the beginning of the third quarter of 2022 with leading organizations to implement its Industrial Internet of Things products and services. Contract Updates: Secured a purchase order with one of the largest electronics distributors in the world, whereby Inpixon's IIoT platform and UWB tags are now available for streamlined purchasing through this worldwide channel. Secured a purchase order through Inpixon collaboration partner Schauenburg Systems to implement Inpixon's IIoT solutions for a customer to incorporate real-time location awareness into their collision avoidance systems for increased underground mining safety. Secured a purchase order with a U.S. government agency to expand the use of Inpixon's wireless device detection and security applications for enhanced security of facilities. Secured purchase orders for additional solutions in three countries with a leading global energy products and services company, to implement Inpixon's IIoT products for asset tracking and to enhance business operations. This customer will also begin a pilot program utilizing Inpixon-provided BLE mesh network technology to track high-value assets within a large manufacturing site. Secured additional purchase orders with a national health organization related to their existing implementation of Inpixon's IIoT applications which aid in locating staff and creating a safer work environment. Inpixon's solutions are deployed in areas that support and control building systems. Secured additional purchase orders with multiple, large mining-equipment manufacturers for RTLS components for their collision avoidance and proximity awareness solutions to optimize mining operations and improve worker safety. | ||||
Inpixon announced that… Inpixon announced that the Company's Board of Directors has approved a consolidation of the Company's common stock whereby every seventy-five shares of its outstanding common stock will automatically be combined into one share of common stock. The reverse stock split is being implemented for the purpose of complying with applicable Nasdaq Listing Rules, including the closing bid price requirement and such other minimum bid price rules to the extent they may be applicable, in connection with future strategic transactions. The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. At such time, the common stock will also commence trading with a new CUSIP number, 45790J867. In accordance with the reverse stock split, each stockholder's percentage ownership interest in Inpixon will remain unchanged. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of common stock. Concurrent with the reverse stock split, the authorized shares will also be proportionately reduced consistent with the reverse split ratio. | ||||
KINS Technology Group… KINS Technology Group (KINZ) a special purpose acquisition corporation sponsored by KINS Capital LLC, announced the execution of an agreement and plan of merger, pursuant to which it will acquire a leading-edge workplace experience application business from Inpixon (INPX). The transaction will be structured as a business combination with Inpixon's wholly owned subsidiary, CXApp Holdings Corp and is anticipated to result in Inpixon shareholders receiving shares of KINS capital stock valued at approximately $69M. The transaction has been approved by each of the Board of Directors of KINS, CXApp and Inpixon and is expected to be consummated in the fourth quarter of 2022, subject to regulatory and stockholder approval by the stockholders of KINZ and the satisfaction of certain other customary closing conditions. The CXApp platform offers a suite of workplace experience solutions including an enterprise workplace application, events platform, indoor mapping and augmented reality technologies, targeting the emerging hybrid workplace market to provide enhanced experiences across people, places, and things. Upon the closing of the Business Combination, the combined company is expected to operate under the name CXApp Inc. and remain a NASDAQ-listed public company trading under a new ticker symbol. | ||||
