Inpixon (NASDAQ:INPX) Announces Pricing $50.0 Million Offerings: Stock Falls

Indoor intelligence company Inpixon (NASDAQ:INPX) saw its stock take a dive on Tuesday and end the day with a decline of as much as 5%. As it happens, the selloff in the stock came about after the company actually made a significant announcement.

Trading Data

On Tuesday, INPX stock moved down 4.87% to $0.3124 with more than 4.66 million shares, compared to its average volume of 1.62 million shares. The stock moved within a range of $0.3000 – 0.3241 after opening trade at $0.31.

Key Details         

Inpixon announced yesterday that it had signed up for a securities purchase agreement with a number of institutional investors. As per the provisions of the agreement, the investors are going to pick up as many as 53198 shares of the Series B convertible stock in the company and warrants. That way, the total number of shares of the common stock is going to go up to as much as 112,778,723.

A unit is going to be made up of a solitary Series B preferred stock and as many as 2120 warrants. The purchase price of the unit in question is going to be set at $940. That is going to work out to a discount of as much as 6%. It was a major new announcement from the company but it did not lead to any considerable excitement from investors and in fact, the stock suffered from a pretty strong decline.

Technical Data

INPX stock is below the 20-Day and 50-Day Moving averages of $0.34 and $0.39 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.77.