Inpixon Converts Note Receivable to Equity in Ethereum Mining Company
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PALO ALTO, Calif., Apr. 14, 2021 /PRNewswire/ Inpixon (Nasdaq: INPX), the Indoor Intelligence™ company, today announced that it has converted a note receivable due from Sysorex, Inc. (OTCQB: SYSX), in an aggregate amount of approximately $9.0 million, into shares of Sysorex common stock valued at approximately $17 million (including the shares underlying rights to acquire Sysorex common stock), based on the closing price of Sysorex s common stock as of April 13, 2021.
Concurrent with the conversion of the note receivable, Sysorex announced the closing of a reverse triangular merger with TTM Digital Assets & Technologies, Inc. ( TTM ), a data center owner and operator primarily engaged in the business of mining Ethereum and additional cryptocurrencies. Founded in 2017, TTM was an early participant in Ethereum blockchain and TTM believes it is the large
Herndon, VA, April 14, 2021 (GLOBE NEWSWIRE)
via NewMediaWire Sysorex (OTCQB: SYSX) today announced the closing of a reverse triangular merger with TTM Digital Assets & Technologies, Inc., a data center owner and operator and now, the largest U.S. publicly traded Ethereum mining company based in the United States with operations in New York and North Carolina.
As a result of the transaction, TTMâs business and operations will become the core business of Sysorex as the first Ethereum company trading in the U.S. public markets. Sysorex will continue to operate its legacy business providing a comprehensive suite of network performance, secure wireless access and cybersecurity products to the U.S. Government through its wholly-owned subsidiary, Sysorex Government Services, Inc.