KINS Technology Group (KINZ) Closes Inpixon Deal
KINS Technology Group Inc. (NASDAQ:KINZ) announced it has closed its combination with workplace experience company Inpixon’s (NASDQ:INPX) CXApp application.
The merger was originally approved by shareholders at a meeting held on March 10, but at that time, the SPAC did not provide a timeline for the closing of the deal. The completion vote was originally scheduled to be held on March 8, but was pushed back to allow additional time for KINS to engage with its stockholders.
The combined company will now operate as CXApp Inc. and will start trading its common stock and warrants on the Nasdaq tomorrow, March 15, under the ticker symbols “CXAI” and “CXAIW”, respectively.
The SPAC announced the $69 million deal with Inpixon in September 2022. Palo Alto-based CXApp provides digital workplace and event management tools, helping users book rooms and venues as well as interact with spaces via AR/VR solutions.
Following the completion of the deal, the company has implemented new leadership to help scale the business. Mr. Khurram Sheikh will serve as the Chairman and CEO of the combined company and KINS directors Ms. Di-Ann Eisnor and Mr. Camillo Martino will become independent board members of CXApp.
- Skadden, Arps, Slate, Meagher and Flom LLP is serving as legal advisor to KINS.
- Mitchell Silberberg and Knupp LLP is acting as legal advisor to CXApp.