Shares of Inpixon soared 32% on heavy volume in premarket trading Tuesday, after the data intelligence company's that Inpixon was working with cruise lines and hotels on customer safety measures. Contrary to the typical wall crossing deal, the terms of the Inpixon deal strike us as highly irregular for a variety of reasons. This alone would be a fairly mundane revelation given the number of similar stories at the time, but in Inpixons case, there was one unique factor: the blockchain press release was shared with a select group of investors in advance. Inpixon is a vibrant, agile tech company providing indoor intelligence solutions for global enterprise leaders. Inpixons stock price responded as one might expect, surging over 192% from the previous days close within 9 seconds on heavy premarket volume. Filings suggest that is exactly what happened. Discuss. Hindenburg Research makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. Our experience in the investment management industry spans over a decade, with a historical focus on buy side equity, credit, and derivatives analysis.While we use fundamental analysis to aid our investment decision-making, we believe the best edge can be had by uncovering hard-to-find information from atypical sources. The registration statements, proxy statement/prospectus and other documents (when they are available) will also be available free of charge, at the SEC's website atwww.sec.gov, or by directing a request to: KINS Technology Group, Inc., Four Palo Alto Square, Suite 200, 3000 El Camino Real,Palo Alto, CA94306. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The stock has dropped about 95% in the ensuing months, eviscerating many who bought into the announcement. Stockholders are urged to carefully read the proxy statement/prospectus regarding the Business Combination when it becomes available, because it will contain important information. 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. By embracing curiosity and experimentation, we are constantly looking for new ways to innovate how things are done, for ourselves, our customers, and the world. The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. Get up to 10 years of daily historical stock prices & volumes. When including the potential dilution from warrants the offering had the potential to more than double the Companys shares outstanding. Presumably the other side of those trades included people who saw the exciting blockchain news and were hoping to take the stock for a ride. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. In addition, the Company is pursuing possible strategic transactions. The regulation more or less aspired to plug up weaknesses with existing insider trading laws in order to make the markets fairer (as the name implies). Below, we examine the compound annual growth rate CAGR for short of an investment into Inpixon shares, starting with a $10,000 purchase of INPX, presented on a split-history-adjusted basis factoring in the complete INPX split history. Through wall crossings companies are able to share MNPI with prospective investors to get feedback or gauge interest in a prospective deal without alerting the entire market to their proposals. Media relations and general inquiries: Inpixon Email: [email . I cannot stress this enough for a dilution machine like INPX. When a company such as Inpixon conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. Is this happening to you frequently? As one commentator stated: Generally, potential investors do not receive any material non-public information regarding the issuer or its business. But you don't have to believe me, just ask the company. I consider this article to be a public service announcement which hopefully (usually new) retail traders will read before being sucked into the liquid and volatile day trading fun this stock provides every so often before giving a kick to the gut of its newly sucked in shareholders. the discounted shares through a private placement offering. There are so many, it can't even be expressed concisely in an article. Inpixon's blockchain announcement was released on January 9 th. Copy and paste multiple symbols separated by spaces. The company's Indoor Intelligence and mobile app solutions are. By the end of the same period, the company had only $107,000 in cash compared with current accounts payable of almost $28 million and total current liabilities of almost $45 million. 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. Roth was also well-known for its role in facilitating several suspect reverse mergers involving Chinese companies, raising approximately $3.1 billion for China-based clients from 2003 to 2012. The shares were purchased at a roughly 20% discount to Inpixons market price at the time. "As previously disclosed, we have undertaken a number of significant initiatives aimed at increasing stockholder value, including: (i) reducing corporate expenses to streamline operations; (ii) entering into a definitive agreement for the planned spin-off and sale of our newly formed subsidiary, CXApp Holding Corp., for shares in KINS Technology Group, Inc. (Nasdaq: KINZ; KINZW), valued at approximately $69 million to be issued to our securityholders as of a to be determined record date; and (iii) entry into a non-binding letter of intent with a third party involving the remainder of our business. Photo taken from the Why Is It Moving? Details tool inside Benzinga Pro. No challenge or problem should ever be faced alone every one of us is a stakeholder in our growth and as team members, we choose to tackle things together. Reg FD was designed to prohibit the selective disclosure of material non-public information. Do Not Sell My Personal Data/Privacy Policy. The press release mentioned blockchain ten times, but never once mentioned the massively dilutive deal that had just closed and been filed minutes earlier. Since becoming its own entity in 2018, Inpixon has grown both organically and through acquisition, to aid in delivering on its vision to harness the power of indoor data making spaces smarter, safer, and more secure. Avoid buying INPX at all costs. Roth largely operates in the murky world of small and microcap banking where it specializes in providing creative financing solutions. I am considering re-entering long INPX but I'm somewhat out of the loop. The company states it has an industry leading dataset including 37,000+ mapped golf courses, and 250 million rounds tracked in 125+ countries by 200,000+ users. Posted by 8 months ago. Create situational awareness with precise indoor positioning and wireless device detection. The person receiving an illegal tip must pay the market price for shares. 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. During the height of "blockchain mania" Inpixon issued a press release announcing that it would leverage the blockchain. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. Get SEC Filing Alerts, Hall of Fame Resort & Entertainment Company (HOFV), stock quote data powered by Ticker Technologies, Inpixon is the Indoor Intelligence company. Photo taken from the 'Why Is It Moving?' Details tool inside Benzinga Pro. If this kind of deal is permitted, Roth may have succeeded at pioneering a legal form of capital raising that is more egregious than any illegal insider trading scheme we could ever conceive of. There are currently no items in this Watchlist. Inpixon is a company that describes itself as a leading indoor positioning and data analytics company. Currently operating in 7 countries with over 250 employees, Inpixon is bringing its Indoor Intelligence solutions, technology, and expertise to a global market. Accurately pinpoint the location of people or assets inside a building. Combining the power of mapping, positioning and analytics,. 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. 5. Explore all Inpixon supported hardware including tags, anchors, sensors and more. The company's indoor location data platform ingests diverse data from IoT, third-party and proprietary sensors designed to detect and position active cellular, Wi-Fi and Bluetooth devices. Click Manage settings for more information and to manage your choices. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements. General inquiries:InpixonEmail: marketing@inpixon.comWeb: inpixon.com/contact-us, Investor relations:Crescendo Communications, LLCTel: +1 212-671-1020Email: INPX@crescendo-ir.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/inpixon-announces-share-consolidation-for-nasdaq-compliance-and-to-support-strategic-transactions-301642082.html, https://www.prnewswire.com/news-releases/inpixon-announces-share-consolidation-for-nasdaq-compliance-and-to-support-strategic-transactions-301642082.html, 12-year-old catches great white shark while fishing in Florida, Biden calls in Ghostburger order, leaves employee speechless, Brian Walshe pleads not guilty to murder: Everything we know about the case, Anger grows in Virginia city where first-grader shot teacher, Poll: Two-thirds of Americans including most Dems favor investigation into Biden docs. To say the offering was dilutive doesnt do justice to the term. Despite the current market conditions, we believe these initiatives will help unlock increased value for our stockholders.". Here investors were offered shares at a steep ~20% discount to the market price just before releasing market-moving positive news, which seemed to actually enhance the dilutive effects of the offering. (PRNewsfoto/Inpixon) The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. It does not matter what this company does. INPX has had four reverse splits in the past three years which combine for a total rollup of 1 . Mr. Clemmer is a co-investor in Game Your Game. In steps Roth Capital, an investment bank based in Newport Beach, California, which was hired exclusively to run an offering for Inpixon. We specialize in capturing, interpreting, and visualizing indoor data to make indoor spaces smarter, safer, and more secure.A multitude of industries and disciplines leverage our solutions to do good with indoor data. Founded by Nate Anderson, CFA, CAIA, Hindenburg Investment Research specializes in forensic research and activist short-selling. Here, purchasers in the direct offering were allowed to sell shares short and hedge their warrant exposure with minimal limitation (Pg. We found no mention of blockchain in the actual prospectus documents for the private placement. I'm also eager to maximize the potential of Game Your Golf in which we have a joint interest.". Read Note 10 - Capital Raises through Note 12 - Preferred Stock on the company's Q3 financial filing to get the full dilutive picture. All told the offering looks to have been a sweet deal for Roth and the investors. INUV Split History Intraday data delayed at least 15 minutes or per exchange requirements. PALO ALTO, Calif., Dec. 20, 2022 /PRNewswire/ -- Inpixon (Nasdaq: INPX), the Indoor Intelligence company, today announced that it has received an order for its real-time location system (RTLS) products from a global provider of transportation and industrial products and services. We have no idea how this all ends up but it will likely be interesting to watch. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. There are not analysts providing consensus earnings estimates for the current fiscal year. card. The Inpixon stock price fell by -8.29% on the last day (Friday, 13th Jan 2023) from $1.81 to $1.66. Trading volume spiked to Inpixon engages in the provision of indoor positioning and data analytics services. I think that only applies to GOOD past performance. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. This language gave a potential arbitrage profit to the purchasers because they could sell short Inpixons shares at any point above the warrants strike price and cover their short at a profit once the warrant registration became effective. From the liquidity section of its Q3 filing: The Companys capital resources as of September 30, 2019, availability on the Payplant facility to finance purchase orders and invoices in an amount equal to 80% of the face value of purchase orders received and funds from its revenue will not be sufficient to fund planned operations during the next twelve months from the date the financial statements are issued based on current projections. Data analytics services reverse stock split will be effective as of the commencement of trading on Friday October! 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