Inpixon Provides Update on Pending Strategic Transactions
PALO ALTO, Calif., Jan. 12, 2024 /PRNewswire/ — Inpixon® (Nasdaq: INPX) announced today that it is working with XTI Aircraft Company to expeditiously satisfy applicable closing conditions to the previously announced business combination transaction. The parties intend to announce the anticipated closing date of the transaction as soon as possible following the satisfaction of such conditions and receipt of Nasdaq approval for the listing of the post combination company’s common stock. The combined company is expected to operate under the name XTI Aerospace, Inc. (“XTI Aerospace”) and to trade on the Nasdaq Capital Market under the symbol “XTIA” if approved for listing. When completed, the merger will result in a combined publicly traded company that will focus on advancing the TriFan 600 to market, as well as continuing to offer Inpixon’s real-time location systems (RTLS) technology to manufacturing and warehousing facilities for streamlined operations, greater efficiency, and improved safety. The enterprise value of XTI was ascertained by an independent financial advisory firm to be within the range of $252 million and $343 million.1 Additional information is available on the merger information portal at https://xti-inpx-merger.com/.