Brief: Inpixon Announces Planned Spin-Off And Merger Of Saves UK Business With Damon Motors Inc, And Plans For Nasdaq Listing Of Combined Company

XTI Aerospace

23/10/2023 13:50

Oct 23 (Reuters) - Inpixon  INPX.O :
    * 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
    * INPIXON- DAMON REPORTS APPROXIMATELY $85 MILLION IN
PRE-PRODUCTION CONSUMER RESERVATIONS FOR ITS MOTORCYCLES
    * INPIXON - DAMON REPORTS APPROXIMATELY $85 MILLION IN
PRE-PRODUCTION CONSUMER RESERVATIONS FOR ITS MOTORCYCLES
    * INPIXON- TRANSACTION IN ADDITION TO XTI AIRCRAFT MERGER
PROVIDES
OPPORTUNITY TO MAXIMIZE SHAREHOLDER VALUE FOR INPIXON
SHAREHOLDERS
    * INPIXON - ENTERPRISE VALUE OF DAMON WAS ASCERTAINED BY
INPIXON'S
INDEPENDENT FINANCIAL ADVISORY FIRM TO BE WITHIN RANGE OF $224
MILLION AND $284 MILLION
    * INPIXON - FOLLOWING COMPLETION OF BUSINESS COMBINATION,
INPIXON
UK AND DAMON WILL BE WHOLLY OWNED SUBSIDIARIES OF GRAFITI
    * INPIXON - TRANSACTION HAS BEEN APPROVED UNANIMOUSLY BY
BOARDS OF
DIRECTORS OF BOTH INPIXON AND DAMON
    * INPIXON- UPON CLOSING, DAMON NOTE AND WARRANTS TO BE
EXCHANGED
FOR COMMON SHARES OF COMBINED CO AND WARRANTS TO PURCHASE COMMON
SHARES OF COMBINED CO
    * INPIXON- INPIXON WILL RETAIN ITS INDUSTRIAL INTERNET OF
THINGS
(IIOT) BUSINESS LINE AND CONTINUE TO WORK TOWARDS COMPLETION OF
XTI TRANSACTION
    * INPIXON- PLANS TO CONTRIBUTE ALL OUTSTANDING CAPITAL STOCK
OF
INPIXON UK TO INPIXON'S NEWLY FORMED BRITISH COLUMBIA
SUBSIDIARY, GRAFITI HOLDING INC
    * INPIXON- HOLDERS OF GRAFITI SHARES ANTICIPATED TO RETAIN
ABOUT
18.75% OF OUTSTANDING CAPITAL STOCK OF COMBINED CO DETERMINED ON
A FULLY DILUTED BASIS
    * INPIXON- INPIXON UK AND DAMON TO BE UNITS OF GRAFITI,
GRAFITI TO
ADOPT NEW NAME, AND COMBINED COMPANY WILL BE LISTED ON NASDAQ
STOCK MARKET

Source text for Eikon:  ID:nPn8xbQMQa 
Further company coverage:  INPX.O 

 ((Reuters.Briefs@thomsonreuters.com;))