INVE Technologies Announces Sale of IoT Business; Name Change & Interim CEO

What Happened

• On September 15, 2026, Identiv, Inc. completed the sale of its specialty Internet of Things (IoT) business to Trackonomy Systems, Inc. The transaction closed under a June 24, 2026 Stock and Asset Purchase Agreement. At closing the Company received $25 million in cash, and $50 million of Trackonomy Series C preferred stock (valued at $20.07 per share as of September 15, 2026); Trackonomy also assumed certain liabilities related to the business. Adjustments to the consideration will be made 90 days after closing per the agreement.
• Also on September 15, 2026 the company filed a Certificate of Amendment changing its corporate name from Identiv, Inc. to INVE Technologies, Inc., and updated its bylaws to reflect the name change (effective September 15, 2026).
• The Company announced the appointment of James Greenwell as Interim Chief Executive Officer effective September 21, 2026. Kirsten Newquist will resign as CEO effective September 21, 2026 and from the board effective September 30, 2026, remaining employed through September 30.

Key Details

• Buyer: Trackonomy Systems, Inc.; consideration at closing: $25.0M cash + $50.0M in Series C preferred stock (priced at $20.07/share as of 9/15/2026).
• Sale approved by stockholders at the 2026 annual meeting (votes for the Stock & Asset Sale: 17,581,408 for; 5,539,132 against; 880,225 abstain; 3,255,471 broker non-votes).
• Corporate name change to INVE Technologies, Inc. filed with Delaware on Sept 15, 2026; no stockholder vote required under Delaware law.
• The company filed unaudited pro forma condensed consolidated financial statements to show the transaction’s impact (Exhibit 99.2).

Why It Matters

• The sale materially divests INVE of its specialty IoT operating assets, providing immediate cash ($25M) and a significant equity stake in the buyer ($50M of preferred stock). Investors should note the consideration mix (cash + preferred stock) and that final purchase-price adjustments are pending 90 days post-closing.
• The name change formalizes a rebranding after the divestiture and does not alter shareholder rights. The board-approved CEO transition to an interim leader is a material governance change that may affect near-term strategy and operations.
• The shareholder approval vote and the filing of pro forma financials reduce transaction uncertainty and give investors documentation to assess how the sale will affect the company’s balance sheet and future results.