Why Inpixon [NASDAQ: INPX] Share Is Slumping Today?

Inpixon [NASDAQ: INPX] shares plunged -14.43% during the trading session of Friday. The firm has disclosed that it has signed a securities purchase deal with a single official financier to buy 15,000,000 shares of common stock. The firm has also provided the permit to buy a total of 15,000,000 shares of common stock at a buying price of $2.00 per share and an additional license in a registered direct offering valued at-the-market under Nasdaq rules.

The warrant which is issued by the firm will expire in the five years after the issuance date and have an exercise price of $2.00 per share. The single-agent of the firm for this offering will be Maxim Group LLC.

Shares of Inpixon [NASDAQ: INPX] went down 15.51% as it lost -0.36 during the trading session of Friday. The firm has a closing price of $1.96 during the trading session of Friday. It has a trading volume of 11.19 million as compared to the average volume of 7.31 million. In the past 52-weeks of trading, INPX share went down -39.32% from its 52-week high and went up -39.32% from its 52-week low. Inpixon has a total market capitalization of $142.82 million at the time of writing.

Inpixon is anticipating that the Gross Profit from this offering will be $30.0 million before subtracting the charges of offering expenditures and other expenditures. The firm is planning to use the gain from the offering for the strategic activities of the firm and for future buying. This offering is anticipated to increase the strength of the firm.  It is projected that the offer will be executed on or about February 17, 2021.