Inpixon enters into a note purchase agreement with st. george investments llc to issue and sell to the holder an unsecured promissory note in an aggregate principal amount of $952,500.00
On november 22, 2019, inpixon entered into a note purchase agreement with st. george investments llc, pursuant to which the company agreed to issue and sell to the holder an unsecured promissory note in an aggregate principal amount of $952,500.00 (the initial principal amount), which is payable on or before the date that is 6 months from the issuance date (the maturity date); provided, however, that so long as no event of default under the note has occurred, the company may extend the maturity date by 3 months by providing the holder with written notice not more than 1 month prior to the maturity date. in such case, a one-time extension fee equal to 10% of the then-current outstanding balance will be added to the note. the initial principal amount includes an original issue discount of $187,500.00 and $15,000.00 that the company agreed to pay to the holder to cover the holder’s legal fees, accounting costs, due diligence, monitoring and other transaction costs. in exchange for the note, the holder paid an aggregate purchase price of $750,000.00 (the transaction). the holder is an affiliate iliad research and trading, l.p. (“iliad”) and chicago venture partners, l.p. (“cvp”). iliad is a holder of the company’s outstanding promissory notes issued on december 21, 2018 and september 17, 2019 with outstanding balances, as of november 22, 2019, of approximately $669,000 and $970,000, respectively. cvp is a holder of the company’s outstanding promissory notes issued on may 3, 2019, june 27, 2019 and august 8, 2019, with outstanding balances, as of november 22, 2019, of approximately $3.99 million, $2.17 million and $1.95 million, respectively. the terms of the note include: interest. interest on the note accrues at a rate of 10% per annum and is payable on the maturity date or otherwise in accordance with the note.
