Inpixon Announces Record Date and Details for Subsidiary Spin-off and its Planned Business Combination with Damon Motors
PALO ALTO, Calif., Dec. 14, 2023 /PRNewswire/ -- Inpixon® (Nasdaq: INPX) today announced that its board of directors has set December 27th, 2023 as the record date ("Record Date") for determining the holders of Inpixon's outstanding capital stock and certain other securities (the "Record Date Securityholders") entitled to the distribution of all the outstanding shares of Grafiti Holding Inc. ("Grafiti") owned by Inpixon (the "Spin-off Shares") in connection with its previously announced spinoff ("Spin-off").
- The Spin-off is required to be completed prior to the planned business combination between Grafiti and Damon Motors, Inc. ("Damon"), the maker of the acclaimed HyperSport electric motorcycle ("Business Combination").
- Nadir Ali, CEO of Inpixon said, "I'm pleased to report we are making progress with the planned Spin-off and the anticipated business combination of Grafiti with Damon.
- Inpixon expects that there will be no public trading market for the shares of Grafiti until or unless the Business Combination is consummated.
- Inpixon may elect to change the Record Date for the Spin-off to a later date or to not proceed with the distribution.