Inpixion Undergoes C$4.8 Million Public Offering
Inpixion (NASDAQ:INPX), a company principally engaged in detecting mobile and wireless devices through indoor sensors announced that it was raising C$4.8 million in a public offering. Proceeds of the financing are planned for the acquisition of indoor mapping company Jibestream, in addition to working capital requirements. As quoted in the press release: The securities offered … Continued
Inpixion (NASDAQ:INPX), a company principally engaged in detecting mobile and wireless devices through indoor sensors announced that it was raising C$4.8 million in a public offering. Proceeds of the financing are planned for the acquisition of indoor mapping company Jibestream, in addition to working capital requirements.
As quoted in the press release:
The securities offered by the Company consist of (i) 6,497,410 shares of common stock and Series A warrants to purchase up to 6,497,410 shares of common stock, at a combined public offering price of $0.2775 per share of common stock and related Series A warrant, and (ii) 2,997 shares of Series 6 Convertible Preferred Stock, each convertible into approximately 3,604 shares of common stock, and Series A warrants to purchase up to 10,800,000 shares of common stock, at a combined public offering price of $1,000 per share of Series 6 Convertible Preferred Stock and related Series A warrants. Each Series A warrant will have an exercise price per share of $0.2775, will be immediately exercisable and will expire on the fifth anniversary of the original issuance date.
The shares of common stock or Series 6 Convertible Preferred Stock and the accompanying Series A warrants can only be purchased together in this offering but will be issued separately and will be immediately separable upon issuance. The net proceeds from the offering to the Company are expected to be approximately $4.0 million after deducting the underwriting discount and estimated offering expenses, and excluding the proceeds from the exercise of any Series A warrants. All of the shares and accompanying Series A warrants in the offering will be sold by the Company. The offering is expected to close on August 15, 2019, subject to customary closing conditions.
