Annual report pursuant to Section 13 and 15(d)

Warrants

v3.21.1
Warrants
12 Months Ended
Dec. 31, 2020
Warrants [Abstract]  
Warrants Warrants
On January 15, 2019, the Company issued warrants for the purchase of 80,000 shares of common stock in connection with a rights offering more fully described in Note 18. The warrants are exercisable for 5 years at an exercise price of $149.85 per share.
Following the rights offering on January 15, 2019, the exercise price of the warrants issued in the April 2018 public offering were reduced to the floor price of $223.20 and the number of shares issuable upon exercise of such warrants was increased by 33,366 shares of common stock.
On August 12, 2019, the Company issued Series A warrants to purchase up to an aggregate of 384,387 shares of common stock in connection with the August 2019 capital raise more fully described in Note 18. The warrants are exercisable for five years at an exercise price per share of $12.4875.
During the three months ended March 31, 2019, the Company issued 306 shares of common stock in connection with the exercise of 306 warrants at $149.85 per share.

During the twelve months ended December 31, 2019, the Company issued 425,952 shares of common stock in connection with the exercise of 456,826 warrants through cashless exercises.
On November 25, 2020, Inpixon entered into a Securities Purchase Agreement with an institutional investor named therein (the “Investor”), pursuant to which the Company agreed to issue and sell, in a registered direct offering, 5,000,000 shares of the Company’s common stock, par value $0.001 per share, and warrants to purchase up to 8,000,000 shares of common stock (the “Purchase Warrants”) at a combined offering price of $1.25 per share. The Purchase Warrants have an exercise price of $1.25 per share. Each Purchase Warrant is exercisable for one share of common stock and will be immediately exercisable and will expire five years from the issuance date.
The Company also offered and sold to the Purchaser pre-funded warrants to purchase up to 3,000,000 shares of common stock (the “Pre-Funded Warrants” and, together with the 5,000,000 shares and the Purchase Warrants, the “Securities”), in lieu of shares of common stock at the Investor’s election. Each Pre-Funded Warrant is exercisable for one share of common stock. The purchase price of each Pre-Funded Warrant is $1.249, and the exercise price of each Pre-Funded Warrant is $0.001 per share. The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full.
During the three months ended December 31, 2020, the Company issued 3,000,000 shares of common stock in connection with the exercise of 3,000,000 warrants at $0.001 per share .
The following table summarizes the changes in warrants outstanding during the years ended December 31, 2020 and 2019:
  Number
of
Options
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
(in thousands)
Exercisable at January 1, 2019 52,632  $ 866.70  $ — 
Granted 497,753  48.66  — 
Exercised (457,132) 35.78  — 
Expired (1) 6,075,000.00  — 
Cancelled —  —  — 
Outstanding at December 31, 2019 93,252  $ 503.09  $ — 
Granted 11,000,000  $ 0.91  — 
Exercised (3,000,000) —  — 
Expired (2) 1,336,500.00  — 
Cancelled —  —  — 
Outstanding at December 31, 2020 8,093,250  $ 6.70  $ — 
Exercisable at December 31, 2019 93,252  $ 503.09  — 
Exercisable at December 31, 2020 8,093,250  $ 6.70  —