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Inpixon has signed a merger agreement with KINS Technology Group for KINS to acquire Inpixon's enterprise apps business, valued at approximately $69 million. The deal, expected to close by year-end 2022, aims to enhance operational resources and management expertise in the growing workplace experience market. Inpixon stockholders will receive KINS shares, maintaining involvement in two public companies post-transaction. Key customers include numerous Fortune 500 companies, indicating a strong market position. The transaction is pending SEC and KINS stockholder approval.
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KINS Technology Group announced that due to difficulties in determining the accounting treatment for its outstanding warrants, it was unable to file its Quarterly Report on Form 10-Q for Q1 2021 by the required deadline. This failure resulted in a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1). The company has until July 27, 2021, to regain compliance by filing the Form 10-Q or submitting a compliance plan to Nasdaq, which may consider granting an extension under certain circumstances.
KINS Technology Group Inc. (Nasdaq: KINZU) has announced that from February 4, 2021, holders of its units from the initial public offering (IPO) can separately trade shares of Class A common stock and redeemable warrants. The IPO, which completed on December 17, 2020, sold 27,600,000 units. Those not separated will continue to trade under the symbol KINZU, while the separated shares and warrants will trade under KINZ and KINZW, respectively. The separation process requires brokers to contact the Company’s transfer agent.
KINS Technology Group has priced its initial public offering (IPO) of 24 million units at $10.00 per unit, with an upsized offering of 4 million units. Trading under the ticker symbol KINZU on Nasdaq commenced on December 15, 2020. Each unit contains one share of Class A common stock and one-half of a redeemable warrant, entitling holders to purchase additional shares at $11.50 each. The company has given underwriters a 45-day option for an additional 3.6 million units to cover over-allotments.