Summary by Moomoo AI
On February 16, 2024, Inpixon, a Nevada-based data analytics company, completed a strategic divestiture of its subsidiary Grafiti LLC to Grafiti Group LLC, a holding company controlled by Inpixon's CEO, Nadir Ali. The divestiture is part of Inpixon's broader Solutions Divestiture initiative, which aims to streamline the company's focus on its core real-time location services and analytics business. The transaction involved transferring 100% equity interest in Grafiti LLC, which includes assets and liabilities primarily related to Inpixon's Saves, Shoom, and Game Your Game business lines, excluding Inpixon Limited. The sale was for a minimum purchase price of $1,000,000, to be paid in two annual installments, with potential adjustments based on net income, transaction expenses, and working capital. This move follows the previously reported Agreement and Plan of Merger with XTI Aircraft Company, as Inpixon works to divest unrelated business lines before the merger's completion. The divestiture was finalized on February 21, 2024, as part of Inpixon's obligations under the Merger Agreement to reorganize its business structure.
