Identiv sells IoT business to Trackonomy for $50M in preferred stock; boosts buyback to $40M

Identiv, Inc.

Sale of specialty IoT business (assets + Thailand sub) to Trackonomy for $50M Series C Preferred; Identiv contributes $25M cash.
Requires stockholder approval; Bleichroeder holders (~12% common, 100% Series B preferred) agree to vote in favor.
Post-closing, Identiv plans to become a SaaS/Physical AI firm focused on compliance SaaS acquisitions; name change expected.
Board increased stock repurchase authorization from $10M to $40M; $1.88M already repurchased under prior program.
Termination fee of $750K payable by Identiv if deal is terminated for superior proposal or board recommendation withdrawal.

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