Inpixon provides update on subsidiary spin-off and Damon Motors combination

Inpixon has set December 27th as the record date for determining the holders of Inpixon’s outstanding capital stock and certain other securities entitled to the distribution of all the outstanding shares of Grafiti Holding, owned by Inpixon, in connection with its spinoff. The spin-off is required to be completed prior to the planned business combination between Grafiti and Damon Motors, the maker of the HyperSport electric motorcycle. Upon the completion of the combination, the combined company will be listed on Nasdaq, subject to the approval of an initial listing application. After the consummation of the combination, 80% of the spin-off Shares will be subject to lock-up restrictions, subject to release in two equal tranches at 90 days and 180 days after consummation of the business combination, subject to earlier release of all the locked-up shares if the shares sustain a specified trading threshold on Nasdaq. The Record Date Securityholders and management holding Spin-off Shares immediately prior to the closing of the Business Combination are anticipated to retain approximately 18.75% of the outstanding capital stock of the combined company determined on a fully diluted basis. Inpixon will retain its Industrial Internet of Things business line and continue to progress toward completion of the business combination transaction with XTI Aircraft. Following the closing of the Business Combination, Inpixon stockholders will continue to hold, along with their new common shares of Grafiti, the same number of shares of Inpixon common stock that they held immediately prior to the closing of the combination.