Inpixon sets record date for distribution of CXApp stock to its securityholders

Inpixon (INPX) announced that its board of directors has set March 6 as the record date for the dividend of shares of common stock of CXApp Holding to be distributed to Inpixon securityholders in order to effect the spin-off of Inpixon’s enterprise apps business. The dividend in CXApp Holding shares is expected to be distributed to holders of Inpixon’s outstanding capital stock and certain other securities as of the Record Date on or about March 14, the expected closing date of the previously announced business combination between CXApp Holding and KINS Technology Group (KINZ). Following the closing of the Business Combination, KINS will change its name to "CXApp Inc." and begin trading on the Nasdaq Capital Market under the stock ticker symbol "CXAI," and Inpixon will continue to trade on the Nasdaq Capital Market under the stock ticker symbol "INPX." Inpixon Securityholders will receive shares of CXApp Holding common stock on a pro rata basis representing 100% of Inpixon’s interest in CXApp Holding. Immediately following the distribution of CXApp Holding shares, the Business Combination is expected to close. Upon the closing of the Business Combination, all shares of CXApp Holding common stock will be automatically exchanged for shares of New CXApp on a pro rata basis according to an exchange ratio calculated immediately prior to closing using a formula set forth in the merger agreement by and among Inpixon, CXApp Holding, KINS and a subsidiary of KINS. Inpixon Securityholders will receive an aggregate of approximately 6,900,000 shares of New CXApp common stock in exchange for their shares of CXApp Holding common stock.