Inpixon and iliad research and trading, l.p. enter into an exchange agreement

On october 15, 2019, inpixon (the “company”), and iliad research and trading, l.p. (“iliad”), the holder of that certain outstanding promissory note, issued on december 21, 2018 (as amended, supplemented or otherwise modified, the “original note”), with an outstanding balance of $2,311,459.36 as of october 15, 2019, entered into an exchange agreement, pursuant to which the company and iliad agreed to partition a new promissory note in the form of the original note in the original principal amount equal to $200,000 and then cause the outstanding balance to be reduced by $200,000; and exchange the partitioned note for the delivery of 1,818,182 shares of the company’s common stock, par value $0.001 per share (the “common stock”), at an effective price per share equal to $0.11. the shares of common stock will be delivered to iliad on or before october 17, 2019 and the exchange will occur with iliad surrendering the partitioned note to the company on the date when the shares of common stock are approved and held by iliad’s brokerage firm for public resale. iliad is also the holder of that certain promissory note, issued on september 17, 2019, with an outstanding balance of approximately $0.958 million as of october 9, 2019. chicago venture partners, l.p., an affiliate of iliad, is the holder of other promissory notes of the company, with an aggregate outstanding balance of approximately $8.014 million as of october 9, 2019.
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