Inpixon, a trailblazer in Indoor Intelligence, disclosed today its collaborative endeavors with XTI Aircraft Company, aiming to swiftly meet the closing conditions for their previously disclosed merger. The joint venture anticipates announcing the closing date subsequent to the fulfillment of conditions and the receipt of Nasdaq’s approval for listing the common stock of the merged entity.
The amalgamated company is poised to adopt the name XTI Aerospace, Inc. (“XTI Aerospace”) upon completion, intending to trade on the Nasdaq Capital Market under the symbol “XTIA,” subject to regulatory approval. The Inpixon and XTI merger is expected to birth a publicly traded entity with a dedicated focus on advancing the TriFan 600 to market while maintaining Inpixon’s real-time location systems (RTLS) technology for streamlined operations, efficiency, and safety in manufacturing and warehousing facilities.
Independent financial advisory firm assessments place XTI’s enterprise value within the range of $252 million to $343 million. Comprehensive details about the merger are available on the dedicated portal: [https://xti-inpx-merger.com/](https://xti-inpx-merger.com/).
Simultaneously, as part of the previously revealed spin-off of its subsidiary, Grafiti Holding Inc, Inpixon transferred all outstanding shares of its wholly-owned subsidiary, operating the UK-based data analytics and statistical visualization solutions business, to Grafiti Holding. On December 27, 2023, all Grafiti Holding shares transitioned to a trust for the benefit of Inpixon’s common stockholders, preferred stockholders, and certain outstanding warrant holders as of December 27, 2023.
This move is pending the effectiveness of a confidentially submitted registration statement by Grafiti Holding to the Securities and Exchange Commission. Throughout the trust’s custodianship, the Grafiti Holding shares will remain uncertificated and non-tradable. Distribution to Inpixon participating securityholders is anticipated before the business combination closing with Damon Motors, Inc. Subsequently, the combined company will pursue listing on the Nasdaq Capital Market, subject to initial listing application approval.
In a statement, Nadir Ali, Chief Executive Officer of Inpixon, conveyed, “Over the last several months, we have explored, identified, and advanced three strategic transactions that we believe will maximize value for shareholders over the long run, starting with the CXApp transaction, which closed in March 2023, and continuing with the proposed XTI and Damon transactions.” Ali further stated, “Through these two latest transactions, Inpixon shareholders have the opportunity to be stakeholders in two new publicly traded companies, which we believe are poised to be disruptors within their respective industries. We look forward to providing updates related to the completion of these transactions as soon as possible.”
Following these announcements, Inpixon’s stock experienced a surge in pre-market trading, opening at $0.068, up from Thursday’s closing session at $0.053. Heavy trading activity marked the beginning of the trading day, with over 92 million shares changing hands, significantly surpassing the average daily trading volume of 11.35 million shares.
At the time of this publication, Inpixon stock (INPX) has witnessed a surge.
Inpixon
Current Price: $0.05
Change : +0.01
Change (%): (17.41%)
Volume: 92.1M
Source: Tomorrow Events Market Data
The heightened trading activity underscores substantial market interest and a notable shift in investor sentiment regarding Inpixon’s strategic moves. Analysts will closely monitor ongoing market dynamics and stock performance, providing updates as the situation unfolds.
