Inpixon (NASDAQ:INPX) shares are trading higher after the company entered into a definitive merger agreement with XTI Aircraft Company, an aviation company developing the TriFan 600, a fixed-wing, vertical take-off and landing (VTOL) aircraft.
An independent financial advisory firm ascertained the enterprise value of XTI to be within the range of $252 million-$343 million.
If completed, the merger will result in a combined publicly traded company that will focus on advancing the TriFan 600 to market and continuing to offer Inpixon’s real-time location systems technology to manufacturing and warehousing facilities for streamlined operations, greater efficiency, and improved safety.
The merger agreement allows XTI shareholders to own approximately 60% and Inpixon shareholders to retain approximately 40% of the outstanding shares of common stock of the post-combination company as of closing.
The proposed merger is expected to be completed by the fourth quarter of 2023.
Price Action: INPX shares are up 119.20% at $0.33 on the last check Tuesday.
