It's the weekend. This is not a regulatory issue here. Inpixon is a company that describes itself as a leading indoor positioning and data analytics company. You can change your choices at any time by visiting your privacy controls. The day before, Inpixon closed a registered direct offering with the help of Roth, raising approximately $3.2 million in exchange for almost 18 million shares of common stock. For the love of all humanity and the integrity of the markets, please never buy INPX. Buried within an exhibit to the Form 8-K filed minutes before the blockchain announcement, Inpixon disclosed that it had shared a press release (and the intended issuance date and time) to the wall-crossed investors (Ex. The companys Indoor Intelligence platform ingests diverse data from IoT, third-party and proprietary sensors designed to detect and position active cellular, Wi-Fi, UWB and Bluetooth devices. Through mutual respect, honesty and empathy, we build robust, harmonious teams that trust and rely on each other to overcome challenges and achieve milestones. This multidisciplinary depiction of indoor data enables users to increase revenue, decrease costs, and enhance safety. Posted by 6 months ago. Details of this astronomically dilutive share sale were first revealed to investors at 8:46:09 a.m. on January 9, 2018 when the company filed its form 8-K with the SEC. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any investment decision with respect to transacting in any securities covered herein. I cannot stress this enough for a dilution machine like INPX. They're an intrinsic part of our culture, from who we hire to how we work. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. "We are very fortunate to have the opportunity to work with someone of Ricks stature and expertise and look forward to partnering with him on Game as well as benefiting from his support and advice for Inpixon," said Nadir Ali, CEO of Inpixon. INVE Split History Learn more about Inpixons proprietary sensors including Inpixon Pod, Inpixon Sensor 4000, and Inpixon Sensor Ultra. During the blockchain mania that enraptured the market earlier in the year, Inpixon issued a press release announcing a new blockchain initiative. Best-in-Class Leverage a proven best-in-class solution that is robust, versatile and secure. Where indoor data becomes actionable intelligence. Log in to see them here or sign up to get started. Investors were clearly willing to reward tiny companies with large market cap increases just on the mere mention of an association with blockchain or cryptocurrency. In the first 9 months of 2019, the company managed to increase its share count by 32 times due to multiple dilutive financings. The Inpixon stock price fell by -8.29% on the last day (Friday, 13th Jan 2023) from $1.81 to $1.66. what happened to mags in utopia falls. 333-249177) and the Form S-4 (as defined below), the Form S-1 (as defined below), the CXApp registration statement on Form S-1, the proxy statement/prospectus and certain other documents filed or that may be filed by Inpixon, KINS or CXApp from time to time with the SEC following the date hereof. The transaction is subject to the terms and conditions of a Stock Purchase Agreement, including customary closing conditions. There's a saying in the investment world that past performance is not indicative of future results. During the last trading day the stock fluctuated 16.77% from a day low at $1.61 to a day high of $1.88. Based on INPX's cash burn and working capital deficiency, the toxic capital raises will continue. Marketing materials are limited to an issuers exchange act or other public filings or to a road show type presentation that is viewed by pre-cleared investors. For those traders new to the INPX story who might be confused as to what happened and are angry that they have steep losses just a couple of days into their investment, do not fear for you are not alone. Inpixon is a company that describes itself as "a leading indoor positioning and data analytics company. Inpixon customers can take advantage of mapping, positioning, analytics, sensor fusion, and the Internet of Things (IoT) to uncover the untold stories of the indoors. 2023, Nasdaq, Inc. All Rights Reserved. All told the offering looks to have been a sweet deal for Roth and the investors. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Third, the terms of direct offering allowed the wall crossing investors to short Inpixons shares almost immediately. All expressions of opinion are subject to change without notice, and Hindenburg Research does not undertake to update or supplement this report or any of the information contained herein. Despite the current market conditions, we believe these initiatives will help unlock increased value for our stockholders.". We genuinely care about your wellbeing and offer encouragement and tools on how to nurture it, so you can succeed with us, sustainably. Explore all Inpixon supported hardware including tags, anchors, sensors and more. No, it turns out all this information is available in Inpixons public filings, and the whole scenario could actually be completely legal. It does not matter what this company does. Has INPX's growth prospects increased by 810,000 times in three years to offset the reverse splits? The private placement was done as a registered direct offering, which means the participants were able to freely trade their shares after the MNPI had been released to the public. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Often, direct offerings prohibit a purchaser from selling short the offering-companys shares for a period of time to help stabilize the share price. The Inpixon Values We Live By Our values are wired into our DNA as a company. Additionally, we look forward to expanding Games market and to exploring the synergies around Inpixon's and Game's technologies for positioning, maps, analytics and mobile apps. This browser is no longer supported at MarketWatch. I have no business relationship with any company whose stock is mentioned in this article. Press question mark to learn the rest of the keyboard shortcuts. Working hard is key but so is taking care of yourself and your community. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of KINS's stockholders in connection with the Business Combination will be set forth in the registration statement when it is filed with the SEC. The FormS-4to be filed by KINS will include a proxy statement/prospectus in connection with the KINS stockholder vote required in connection with the proposed Business Combination. NASDAQ:INPX Inpixon - INPX News Today $1.70 +0.03 (+1.80%) (As of 12/30/2022 12:00 AM ET) Compare Today's Range $1.63 $1.70 50-Day Range $1.60 $3.67 52-Week Range $1.58 $47.25 Volume 25,729 shs Average Volume 61,878 shs Market Capitalization $4.06 million P/E Ratio N/A Dividend Yield N/A Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of common stock. Inpixon is on a mission to do good with indoor data. That is a 32-fold increase in the number of common shares in nine months. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share. Cookie Notice (). For example, a 1000 share position pre-split, became a 66.6666666666667 share position following the split. Photo taken from the Opening Gap Signals tool inside Benzinga Pro. Therefore, there was no insider trading. Historical daily share price chart and data for Inpixon since 2023 adjusted for splits. The entity last dividend was issued on the 7th of January 2020. Touch device users, explore by touch or with swipe gestures. Information about KINS's executive officers and directors and CXApp's management and directors also will be set forth in the registration statement relating to the Business Combination when it becomes available. Combining the power of mapping, positioning and analytics . Intraday Data provided by FACTSET and subject to terms of use. Here, the leak-out agreement provided that on the date of the blockchain press release the wall crossing investors could not make up more than 35% of the trading volume in the Companys common stock. Get SEC Filing Alerts, Hall of Fame Resort & Entertainment Company (HOFV), stock quote data powered by Ticker Technologies, Inpixon is the Indoor Intelligence company. Therefore, the supposed use of the offering proceeds seemed rather disconnected from the press release shared as part of the offering. Integrate business data with indoor maps to create map-enabled solutions that address multiple use cases. After you do the wall-cross, you publicly announce the offering, and then the stock price pretty much automatically goes down. Given that over 92 million shares traded on that day, the ~18 million shares offered through the deal constituted only 19% of the total trading volume, thereby allowing the wall crossing investors to exit their shares completely. These dilutive capital raises resulted in the shares outstanding climbing from (pre-January 2020 split) 1,581,880 as of December 31, 2018 to 50,518,500 as of September 30, 2019. On the heels of yet another reverse split - this time 1-for-45 - Inpixon (NASDAQ:INPX) managed to empty out the wallets of traders who held the hot potato for an instant too long this past week. Do Not Sell My Personal Information (CA Residents Only). For additional details, please reference the Companys current report on Form 8-K to be filed with the U.S. Securities and Exchange Commission. Visit our investor relations portal to be in-the-know on the latest information about our company. 2023 Benzinga.com. They're an intrinsic part of our culture, from who we hire to how we work. The proxy statement/prospectus contained in KINS's registration statement will be mailed to KINS's stockholders as of a record date to be established for voting on the Business Combination. For example, in a typical insider trading scheme (which again, this is not): The ramifications of permitting this, shall we saycreative form of capital raising could be disastrous. In 2012, Roth shut down its Shanghai office and largely stopped pursuing China-related investment banking business after several of its clients became entangled in allegations of fraud, including: (1) HQ Sustainable Maritime, (2) China Biotics, and (3) Yuhe International. In no event should Hindenburg Research or any affiliated party be liable for any direct or indirect trading losses caused by any information in this report. Stockholders are urged to carefully read the proxy statement/prospectus regarding the Business Combination when it becomes available, because it will contain important information. The person receiving an illegal tip must pay the market price for shares. The press release mentioned blockchain ten times, but never once mentioned the massively dilutive deal that had just closed and been filed minutes earlier. Get up to 10 years of daily historical stock prices & volumes. INPX has a split-adjusted price of $1,800,000 and it is now down to the $5 range. I am interested in any freelance opportunities that may arise outside of Seeking Alpha on Canadian or American listed stocks. "Inpixon's location technologies and Indoor Intelligence platform provide a strong foundation for growth and value creation, as well as the ability of using Game to provide a true sports IoT platform. During the height of "blockchain mania" Inpixon issued a press release announcing that it would leverage the blockchain. Please. INTC Split History In the first week of trading in 2020, INPX managed to go from $5 to $30 and back to $5. In this regard, on October 10, 2019, we entered into an equity distribution agreement (the Equity Distribution Agreement) with Maxim Group LLC (Maxim) under which we may offer and sell shares of our common stock having an aggregate offering price of up to $6,500,000 from time to time through Maxim, acting exclusively as our sales agent. The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. We work hard to make people feel good about the work they do. It's essentially a wipeout restructuring multiple times over. Get Reddit and go enjoy life. In connection with the proposed Business Combination, CXApp will file with the SEC a registration statement on Form S-1 (the "Form S-1") registering shares of CXApp common stock, and KINS will file with the SEC a registration statement on FormS-4(the "Form S-4") registering shares of KINS common stock, warrants and certain equity awards. Benzinga Pro prospects increased by 810,000 times in three years to offset the stock. ( CA Residents Only ) use cases itself as & quot ; a leading indoor and. Purchaser from selling short the offering-companys shares for a dilution machine like INPX information ( CA Residents )... Market earlier in the first 9 months of 2019, the company to... 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