- Indoor Intelligence company Inpixon INPX inked an agreement to sell 58,750 shares of Series 7 convertible preferred stock and five-year warrants to purchase up to 47 million shares to raise $54.1 million in a secondary institutional offering.
- Each share of Series 7 convertible preferred stock and 800 warrants will have a combined purchase price of $920, representing an original issue discount of 8% of the stated value of the Series 7 preferred stock.
- Each share of Series 7 convertible preferred stock will have a stated value of $1,000 and is immediately convertible into shares of Inpixon's at an initial conversion price of $1.25 per share.
- The Series 7 convertible preferred stock permits the holder to vote on an as-converted basis.
- The warrants will have an exercise price of $1.25 per share.
- If shares of preferred stock are redeemed, 75% of the warrants issued due to purchasing such redeemed shares will be forfeited.
- Price Action: INPX shares traded lower by 3.69% at $0.96 on the last check Monday.
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