Inpixon Announces Anticipated Closing Date for XTI Merger and Share Consolidation
PALO ALTO, Calif., March 11, 2024 /PRNewswire/ -- Inpixon® (Nasdaq: INPX) ("Inpixon" or the "Company") today announced that the Company and XTI Aircraft Company anticipate the closing date of the previously announced merger will be after market close on March 12, 2024. Following closing, the Company will operate under the name "XTI Aerospace, Inc." ("XTI Aerospace"). Immediately prior to the closing of the transaction, the Company will implement a consolidation of the Company's common stock for the purpose of satisfying initial listing requirements for the combined company and to bring the company into compliance with Nasdaq continued listing rules. The consolidation will be effective as of market open on March 13, 2024, upon which trading will commence on the Nasdaq Capital Market under the new ticker symbol "XTIA", with a new CUSIP number, 98423K108. Concurrent with the transaction closing, it is expected that an entity controlled by Inpixon's CEO will invest $1.5 million in an equity financing in the Company.
- XTI Aerospace Anticipated to Begin Trading on Nasdaq Under Ticker Symbol "XTIA" as of Market Open March 13, 2024
PALO ALTO, Calif., March 11, 2024 /PRNewswire/ -- Inpixon® (Nasdaq: INPX) ("Inpixon" or the "Company") today announced that the Company and XTI Aircraft Company anticipate the closing date of the previously announced merger will be after market close on March 12, 2024. - Following closing, the Company will operate under the name "XTI Aerospace, Inc." ("XTI Aerospace").
- Concurrent with the transaction closing, it is expected that an entity controlled by Inpixon's CEO will invest $1.5 million in an equity financing in the Company.
- Any fractional shares resulting from the consolidation will be rounded up to the nearest whole share of common stock.