XTI Aerospace, Inc. - $XTIA STOCK NEWS

XTI Aerospace (NASDAQ: XTIA) has provided an update on the spin-off of its former subsidiary, Grafiti Holding, and its proposed business combination with Damon Motors.

The record date for determining eligible shareholders for the spin-off was set to December 27, 2023. Grafiti's registration statement is currently under SEC review. The business combination with Damon Motors is also contingent on several regulatory approvals, including clearance from the British Columbia Securities Commission and Nasdaq listing approval.

Upon completion, the combined company intends to list on Nasdaq. Shareholders will receive their shares through a liquidating trust and will be subject to lock-up restrictions post-consummation of the business combination.

These shares will be non-certificated and non-tradable until the business combination is finalized. The completion of this transaction is expected in the coming months, subject to fulfilling regulatory and closing conditions. Record Date Securityholders will retain their XTI shares along with new Grafiti shares, holding approximately 18.75% of the combined company.

XTI Aerospace, listed on NASDAQ under the ticker XTIA, has announced that CEO Scott Pomeroy will be featured on the Benzinga All Access show today, May 21, 2024, at 11:00 AM Eastern Time. The discussion will cover topics such as the aviation market, business aircraft segment, vertical takeoff and landing (VTOL) aircraft, electric VTOL (eVTOL), and the FAA's 'powered-lift' category. The live event can be viewed on YouTube, and an archived version will be available on XTI Aerospace's investor relations website.

XTI Aerospace (NASDAQ: XTIA) has filed its Form 10-Q for the quarter ended March 31, 2024. The first quarter marked significant milestones, including completing a merger and beginning trading on Nasdaq. The company is advancing its TriFan 600 aircraft by working on certification with the FAA, selecting suppliers, and completing the Critical Design Review (CDR). XTI Aerospace has secured substantial pre-orders for the TriFan 600, potentially generating billions in gross revenue upon delivery. Strategic partnerships are also being pursued to accelerate timelines and reduce costs.

XTI Aerospace has appointed Tensie Axton to its Board of Directors, effective May 13, 2024. Axton, a senior finance and strategic planning expert, will also chair the Nominating and Corporate Governance Committee and serve on the Audit and Compensation Committees. With over 30 years of experience in high-growth businesses, Axton's background includes roles at FTI Consulting, Neighbors Health, Colorado Bancorp, Pinnacle Medical Partners, and KPMG. CEO Scott Pomeroy praised Axton's financial and strategic expertise, emphasizing her role in advancing the commercialization of the TriFan 600.

XTI Aerospace, trading under ticker symbol XTIA, filed its form 10-K for the 2023 fiscal year, highlighting the successful merger with Inpixon and the Nasdaq listing. The company aims to revolutionize air travel with the TriFan 600, receiving over 700 pre-orders worth $7 billion.

XTI Aerospace, Inc. announces a business update presentation post-merger with Inpixon, revealing plans for the TriFan 600 aircraft with over $7 billion in anticipated revenue. CEO Scott Pomeroy leads the aggressive strategy for aircraft development.

XTI Aerospace, Inc. completes merger between XTI Aircraft Company and Inpixon, forming a new entity focused on revolutionizing private air transportation with the TriFan 600. The company aims to generate over $7 billion in gross revenues from 700 pre-orders. Key leadership changes and strategic plans are in place for future growth and commercialization.