Inpixon Announces Planned Spin-off and Merger of SAVES UK Business with Damon Motors Inc., Makers of the Award Winning HyperSport Electric Motorcycle, and Plans for Nasdaq Listing of Combined Company
PALO ALTO, Calif., Oct. 23, 2023 /PRNewswire/ -- Inpixon® (NASDAQ: INPX) today announced that it has signed a definitive agreement under which its wholly owned subsidiary, Inpixon Ltd., a division of Inpixon's statistical analytics and visualization for engineering and sciences (SAVES) business based in the United Kingdom ("Inpixon UK"), will be acquired by private Canadian company, Damon Motors Inc. ("Damon"), a British Columbia company, and the maker of the acclaimed HyperSport electric motorcycle (the "Business Combination"). The Damon HyperSport is expected to be one of the safest, smartest, and most powerful motorcycles available in the market. Damon concurrently announced that it has obtained approximately $85 million in pre-production consumer reservations for its motorcycles. The enterprise value of Damon was ascertained by Inpixon's independent financial advisory firm to be within the range of $224 million and $284 million.
- The Damon HyperSport is expected to be one of the safest, smartest, and most powerful motorcycles available in the market.
- Damon concurrently announced that it has obtained approximately $85 million in pre-production consumer reservations for its motorcycles.
- The enterprise value of Damon was ascertained by Inpixon's independent financial advisory firm to be within the range of $224 million and $284 million.
- Inpixon believes that pursuing these opportunities will offer multiple opportunities for its shareholders to maximize the value of their investment in Inpixon.