XTI Aerospace Appoints Len Urbas as Senior Vice President of Corporate Development
Rhea-AI Summary
XTI Aerospace (NASDAQ: XTIA) has appointed Len Urbas as Senior Vice President of Corporate Development. Urbas brings extensive experience in investment banking, private equity, and strategic growth, having previously served as Managing Director at Waymaker Capital and Senior Advisor at SDR Ventures.
The appointment aims to strengthen XTI's position in the vertical takeoff and landing (VTOL) market. According to Chairman and CEO Scott Pomeroy, Urbas will be instrumental in the company's capital raising strategy and represents the final piece in building their strategic team.
Urbas's track record spans multiple industries including healthcare, technology, financial services, and aerospace. In his new role, he will focus on advancing XTI's mission to redefine air travel and expand its market presence in the rapidly evolving VTOL sector.
Positive
- Strategic hire with extensive investment banking and private equity experience
- Strengthening of capital raising capabilities
- Enhanced leadership team for market expansion
Negative
- None.
News Market Reaction – XTIA
In the trading session that priced this news, XTIA gained 1.52%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Mr. Urbas brings to XTI Aerospace extensive expertise in investment banking, private equity, and strategic growth. With a successful track record across industries including healthcare, technology, financial services, and aerospace, Mr. Urbas will play a key role in advancing XTI's mission to redefine air travel and expand its presence in the burgeoning vertical takeoff and landing (VTOL) market.
Prior to joining XTI Aerospace, Mr. Urbas served as Managing Director at Waymaker Capital and Senior Advisor at SDR Ventures. Throughout his career, he has led investment banking engagements, formed private equity funds, and driven strategic initiatives to support revenue and market share growth.
"Len is an outstanding addition to the XTI leadership team," said Scott Pomeroy, Chairman and CEO of XTI Aerospace. "His experience in corporate development, strategic investments, and market expansion will be vital as we continue to innovate and grow within the VTOL sector. We have been cultivating a formidable capital raising strategy and team, and Len is the final piece of the puzzle. We are confident that his leadership will further position XTI as a leader in aerospace innovation."
Commenting on his appointment, Mr. Urbas stated, "I am excited to join XTI Aerospace at such an important time in the company's development. The VTOL industry is evolving rapidly, and XTI's vision and cutting-edge technology present a tremendous opportunity to shape the future of aviation. I look forward to leveraging my experience to help XTI achieve its ambitious goals and expand its market presence."
About XTI Aerospace, Inc.
XTI Aerospace (XTIAerospace.com) (Nasdaq: XTIA) is the parent company of XTI Aircraft Company, an aviation business based near
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act. All statements other than statements of historical fact contained in this press release, including without limitation, statements about the products under development by XTI, the advantages of XTI's technology, and XTI's customers, plans and strategies are forward-looking statements.
Some of these forward-looking statements can be identified by the use of forward-looking words, including "believe," "continue," "could," "would," "will," "estimate," "expect," "intend," "plan," "target," "projects," or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts, and assumptions that, while considered reasonable by XTI Aerospace and its management, are inherently uncertain, and many factors may cause the actual results to differ materially from current expectations. XTI undertakes no obligation to revise any forward-looking statements in order to reflect events or circumstances that might subsequently arise. Readers are urged to carefully review and consider the risk factors discussed from time to time in XTI's filings with the SEC, including those factors discussed under the caption "Risk Factors" in its most recent annual report on Form 10-K, filed with the SEC on April 16, 2024, and in subsequent reports filed with or furnished to the SEC.
Contacts
General inquiries:
Email: contact@xtiaerospace.com
Web: https://xtiaerospace.com/contact/
Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: XTIA@crescendo-ir.com
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SOURCE XTI Aerospace, Inc.