Welcome to our dedicated page for XTI Aerospace news (Ticker: XTIA), a resource for investors and traders seeking the latest updates and insights on XTI Aerospace stock.
XTI Aerospace (XTIA) is pioneering next-generation aviation solutions through its TriFan 600 VTOL aircraft and real-time location systems. This news hub provides investors and industry professionals with essential updates on technological advancements, regulatory progress, and strategic partnerships.
Access official press releases covering aircraft certification milestones, engineering breakthroughs, and financial performance. Our curated collection includes partnership announcements with global aerospace leaders and updates from the Inpixon RTLS business unit.
Key content categories include quarterly financial disclosures, aircraft testing progress, patent developments, and executive leadership updates. All materials are sourced directly from company filings and authorized communications to ensure reliability.
Bookmark this page for timely updates on XTI Aerospace's mission to transform air mobility. Check regularly for new developments in hybrid aircraft technology and industrial location intelligence solutions.
XTI Aerospace (NASDAQ: XTIA) has announced a best-efforts offering of 363,636,364 shares of common stock priced at-the-market under Nasdaq rules. The shares are being offered at $0.055 per share, with expected gross proceeds of approximately $20 million.
The offering is anticipated to close on January 10, 2025, subject to customary closing conditions. The company plans to use the net proceeds for general working capital and corporate purposes. ThinkEquity is serving as the sole placement agent for this offering.
The securities will be offered through a shelf registration statement on Form S-3 filed with the SEC on May 31, 2024, which became effective on June 18, 2024.
XTI Aerospace (NASDAQ: XTIA) has announced a strategic update for 2025, including a 1-for-250 share consolidation of its common stock. The consolidation, effective January 10, 2025, aims to regain Nasdaq compliance and strengthen the company's position for long-term growth.
Following improvements to its balance sheet and cap table structure in 2024, XTI plans to raise capital and pursue strategic acquisitions. The company is focusing on expanding its leadership in the VTOL industry, particularly with its flagship product, the TriFan 600, following the FAA's formalization of the powered-lift category.
The share consolidation will maintain shareholders' ownership percentages, with fractional shares rounded up. Outstanding stock options and warrants will be adjusted accordingly, while the number of authorized shares and par value remain unchanged. Computershare will manage the exchange process for shareholders of record.
XTI Aerospace (XTIA) completed a General Familiarization presentation of its TriFan 600 aircraft to the FAA on November 14, 2024, marking a significant milestone toward FAA Type Certification. The presentation, attended by over 60 FAA representatives, showcased the aircraft's innovative design, systems, and vertical lift capabilities.
The TriFan 600 represents a new category of aircraft called vertical lift crossover airplane (VLCA), combining helicopter-like takeoff and landing capabilities with fixed-wing airplane efficiency. XTI has been collaborating with the FAA's Center for Emerging Concepts & Innovation division on developing certification guidelines for powered-lift aircraft. The aircraft is designed for various applications, including advanced air mobility, regional transportation, emergency medical services, and corporate travel.
XTI Aerospace (XTIA) announces the completion of a business combination between its former subsidiary Grafiti Holding (renamed to Damon Inc.) and Damon Motors. As part of the transaction, XTI Aerospace received Damon common stock and warrants. Damon shares will trade on Nasdaq Global Market under 'DMN' starting November 18, 2024.
The previously announced 1-for-50 share distribution of Damon common shares to XTI Aerospace stockholders (record date December 27, 2023) has been completed. The distributed shares are subject to lock-up restrictions with a phased release: 20% at closing, 40% at 90 days, and 40% at 180 days post-closing.
XTI Aerospace (NASDAQ: XTIA) provided its Q3 2024 business update, highlighting progress on the TriFan 600 vertical lift crossover airplane development. The company is completing its conceptual design review phase and expects to begin preliminary design review in early 2025. XTI launched Version 1.9 of its Flight Transition Simulator with One-Engine-Inop capabilities. The company formed a Corporate Advisory Board with Michael Tapp as Chairman and appointed Tobin Arthur as Chief Strategy Officer. The FAA published a Special Federal Aviation Regulation establishing a framework for powered-lift operations, which XTI views as significant for urban mobility development.
XTI Aerospace (NASDAQ: XTIA) has appointed Javier de la Peña, Strategy and Operations Executive at Woven by Toyota, to its Corporate Advisory Board. De la Peña brings over 15 years of experience in transportation, robotics, and technology sectors. In his current role, he focuses on Toyota's sustainability and next-generation mobility services initiatives. His background includes fellowships at Google and eBay, and a master's degree from Georgetown University. The appointment aims to leverage his expertise in technology and transportation innovation for the development and market launch of XTI's TriFan 600 aircraft.
XTI Aerospace (NASDAQ: XTIA) has appointed Jennifer Gaines as Chief Legal Officer, effective October 28, 2024. Gaines, who will report to Chairman and CEO Scott Pomeroy, brings nearly three decades of in-house counsel experience across technology, telecommunications, aerospace, and private equity sectors. She previously held senior legal positions at Nemetschek Group, SoftwareOne, Shift Technologies, and other companies. The appointment aims to strengthen XTI's legal and compliance functions as the company works toward bringing its TriFan 600 to market.
XTI Aerospace (NASDAQ: XTIA) has announced its participation in The ThinkEquity Conference, scheduled for October 30, 2024, at the Mandarin Oriental Hotel in New York. CEO Scott Pomeroy will deliver a presentation at 10:00 a.m. ET, and management will conduct one-on-one investor meetings throughout the day. The conference historically attracts over 700 attendees and facilitates 500+ one-on-one meetings with more than 70 company presentations. Investors can register to attend and schedule meetings, with the presentation available via live stream.
XTI Aerospace (NASDAQ: XTIA) has announced its founding sponsorship and partnership in Hangar X Studios, a new podcast focusing on aviation innovations. The weekly podcast will explore breakthrough technologies reshaping the industry, including VTOL, next-gen aircraft, and sustainable aviation solutions.
Industry veterans John Ramstead and Martin Butler join the initiative. Ramstead, with extensive aerospace expertise, will serve as Senior Advisor to XTI and primary host, interviewing industry leaders. Butler, an accomplished media expert, will be Director of Hangar X Studios, focusing on content and trend analysis.
The podcast aims to provide deep insights into the future of aviation, covering topics from autonomous flight systems to air taxis. It will be available on all major podcast platforms, with more information at www.hangarxstudios.com.
XTI Aerospace (NASDAQ: XTIA) has released version 1.9 of its proprietary Flight Transition Simulator for the TriFan 600 vertical lift crossover airplane. The update includes One-Engine-Inop (OEI) capability, simulating engine-out scenarios during takeoff. This advanced simulator optimizes flight transitions between vertical-lift and wing-borne flight modes.
The simulator utilizes a comprehensive database of aerodynamic and propulsion data to make precise calculations for the TriFan 600's unique flight regime. The addition of OEI capability is expected to enhance accuracy in modeling critical flight scenarios, further supporting the aircraft's development and refinement.
Scott Pomeroy, Chairman and CEO of XTI Aerospace, stated that this update represents another step forward in ensuring the safety and reliability of the TriFan 600, highlighting the company's ongoing progress in aircraft development.
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