Effects Reverse Stock Split and Name Change to Inpixon
PALO ALTO, CA, – February 28, 2017 – Sysorex (NASDAQ: SYRX), the indoor positioning and data analytics company, today announced that it has received written notification that the Nasdaq Hearings Panel (the “Panel”) has granted the Company’s request for continued listing on the Nasdaq Capital Market, subject to certain conditions including that, no later than March 15, 2017, Sysorex effect a reverse split of its common stock and evidence a closing bid price of $1.00 per share or more for a minimum of ten consecutive trading days.
In connection with satisfying the Panel’s condition for continued listing, the Company’s Board of Directors has approved a reverse stock split of the Company’s common stock whereby every 15 shares of common stock will automatically be combined into one share of common stock. The reverse split was approved by the Company’s shareholders on November 8, 2016 and will be effective as of the commencement of trading on March 1, 2017.
Sysorex also announced today that, effective as of March 1, 2017, the Company will change its name to Inpixon and its trading symbol from “SYRX” to “INPX.” The Company’s common stock will begin trading on The Nasdaq Capital Market (“Nasdaq”) under its new name and trading symbol effective at the market opening on March 1, 2017.
Sysorex (NASDAQ: SYRX) is a […]