The Vancouver-based electric-motorcycle startup has agreed to a reverse merger with Inpixon in which the California-based firm will spin off its Grafiti division. Damon will acquire Grafiti and then merge with it. (The Logic)
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The Vancouver-based electric-motorcycle startup has agreed to a reverse merger with Inpixon in which the California-based firm will spin off its Grafiti division. Damon will acquire Grafiti and then merge with it. (The Logic)
Talking point: The new entity will be owned by Grafiti and listed on the Nasdaq Capital Market, which focuses on early-stage firms with smaller market capitalizations, and is subject to approval. Damon’s enterprise value, determined by Inpixon’s independent financial advisory firm, is between US$224 million and US$284 million. Damon was founded in 2017 and has been developing e-motorcycles with a focus on safety features, including its CoPilot system. Damon said it has raised more than US$70 million in funding to date and has secured more than US$85 million in reservations for its motorcycles.
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