Inpixon Shares Fall As It Continues To Raise Capital Via Equity Sale To Institutional Investor

Inpixon (NASDAQ: INPX) priced 9.95 million shares at $2.01 per share to raise $20 million in a secondary offering, a 4.7% discount on the Tuesday closing price.
The offering proceeds are to be utilized for acquisitions or other strategic activities.
Inpixon had raised $30 million last week and another $30 million in a separate offer the previous month.
The company's stock has gained 107% in the last quarter.
Maxim Group LLC is the sole placement agent for the offering.
Price action: INPX shares are down 5.21% at $2 on the last check Wednesday.