XTI Aerospace Successfully Completes Restructuring of Approximately $4.7 Million of Promissory Notes and Secures Waiver and Amendment of Revolving Credit Facility with JPMorgan Chase Bank, N.A.

Rhea-AI Summary

XTI Aerospace (XTIA) completed an agreement to restructure approximately $4.7 million of promissory notes issued for its drone business acquisitions. The seller notes were issued on November 10, 2025, in connection with the acquisitions of Drone Nerds and Anzu Robotics. The restructuring modifies the repayment schedule and certain financial terms, extends maturity and establishes a revised repayment framework. The company says the changes provide additional financial flexibility.

XTI also secured a cross-default waiver on its $20 million revolving credit facility with JPMorgan Chase Bank. Additional details about the seller-note restructuring and the credit facility waiver and amendment will be available in its Form 10-Q for the period ended September 30, 2026, once filed with the SEC.

2 points · 1 major

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How the balance works

Positive

• Major pointApproximately $4.7 million of seller notes restructured, extending maturity and revising repayment and financial terms. 12% of market cap
• Moderate pointCross-default waiver secured on the $20 million JPMorgan Chase revolving credit facility.

Negative

• None.

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Details

Market Reaction – XTIA

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$0.95 – $1.03 Day Range

$37.32M Mkt Cap at Last Price

On Nov 12, the day this news came out, the latest delayed price for XTIA is 1.62% below the previous close. Argus tracked a peak move of +6.8% during the session. Our momentum scanner has recorded 7 alerts for this stock so far that day. The latest delayed price is $0.97.

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Key Figures

Promissory notes restructured: Approximately $4.7 million Revolving credit facility: $20 million

Promissory notes restructured

Approximately $4.7 million

Completed restructuring

Revolving credit facility

$20 million

Cross-default waiver secured from JPMorgan Chase Bank, N.A.

Historical Context

1 past event · Latest: Oct 29

1 event

1. Oct 29

   note restructuring agreement

   24h Move

   +1.8%

   Non-binding terms proposed for approximately $4.5 million of seller notes; final documents remained unsigned.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

promissory notes, cross-default waiver, revolving credit facility, form 10q

4 terms

promissory notes financial

"restructure and amend the terms of certain promissory notes"

A promissory note is a written IOU in which a borrower promises to repay a specific amount to a lender, usually with stated interest and by a set date. Investors care because these notes are a formal debt claim—like holding a scheduled payment stream—so they affect a company’s borrowing costs, cash flow and credit risk; notes can be bought, sold or used as collateral, which influences liquidity and recoveries if things go wrong.

cross-default waiver financial

"secured a cross-default waiver on its $20 million revolving credit facility"

A cross-default waiver is a written agreement by one or more lenders that prevents a borrower’s default under one loan or contract from automatically causing a default under other loan documents that include a cross-default clause. It temporarily suspends the normal effect of those cross-default provisions, often for a specified period and subject to conditions (such as waiver fees, amended terms, or covenant forbearance); it does not erase the underlying default or necessarily forgive the debt, and the waiver can be limited in scope or revoked under agreed circumstances.

revolving credit facility financial

"cross-default waiver on its $20 million revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

form 10q regulatory

"upon the filing of the Company's Form 10Q for the period ended September 30, 2026"

A Form 10-Q is a quarterly financial report that public companies file with regulators giving a detailed, three-month snapshot of their finances — typically including income, cash flow, assets and management’s discussion of results and risks. Investors use it like a recurring progress report to verify performance against expectations, spot trends, and identify new risks or opportunities before the next annual report.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FORT LAUDERDALE, Fla., Nov. 12, 2026 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI Aerospace," "XTI," or the "Company"), parent company of Drone Nerds, LLC, ("Drone Nerds"), a leading drone solutions platform serving commercial, enterprise and government customers, today announced the successful completion of an agreement to restructure and amend the terms of certain promissory notes issued on November 10, 2025 in connection with the acquisitions of Drone Nerds, LLC and Anzu Robotics, LLC (the "Seller Notes").  

In conjunction with the successful restructuring of the Seller Notes, the Company has also secured a cross-default waiver on its $20 million revolving credit facility with JPMorgan Chase Bank, N.A.

Under the terms of the restructuring of the Seller Notes, the parties mutually agreed to modify the repayment schedule and certain financial terms associated with the original promissory note. The revised structure extends the maturity date and establishes a repayment framework that provides additional financial flexibility as the Company continues to execute its business strategy.

Additional details on the restructuring of the Seller Notes and the credit facility waiver and amendment will be available upon the filing of the Company's Form 10Q for the period ended September 30, 2026, which will be filed with the Securities and Exchange Commission and available on the Company's website once filed.

About XTI Aerospace, Inc. 

XTI Aerospace, Inc. ("XTI") (Nasdaq: XTIA) is focused on building a leading platform for commercial and government drone adoption in the growing unmanned aircraft systems ("UAS") industry. Through its subsidiary, Drone Nerds, LLC, XTI supports enterprise and government customers in sectors including public safety, agriculture, construction, and energy across the drone program lifecycle, from hardware sourcing and deployment to training, service, repair, and the proprietary Always Flying™ program. Its established U.S. customer base and reputation as a trusted solutions provider position the company as a go-to-market partner for drone manufacturers and software developers seeking to scale in the domestic market.  

For more information about XTI, please visit xtiaerospace.com and follow XTI on LinkedIn, Instagram, X, and YouTube. 

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 of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release are forward-looking statements. 

Forward-looking statements may be identified by words such as "believe," "continue," "could," "would," "will," "expect," "intend," "plan," "target," "estimate," "project," or similar expressions. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to, the Company's ability to continue as a going concern, the Company's ability to maintain the listing of its common stock on Nasdaq, the impact of Section 232 tariffs and other trade measures; pending regulatory inquiries and proceedings relating to the Company and its subsidiaries; potential conflicts of interest arising from its Interim Chief Executive Officer's economic interest in the holders of its acquisition-related notes, market adoption, regulatory requirements, supply chain conditions, technological development, integration of the acquired businesses, the Company's liquidity and ability to access additional capital on acceptable terms or at all, volatility in the Company's stockholders' equity, including as a result of changes in the fair value of its warrant liabilities, and the sufficiency of its capital resources, and changes in applicable laws or regulations, customer demand variability and seasonal purchasing patterns, the Company's ability to achieve projected gross margins and operating cost reductions, working capital timing and inventory management, the outcome of pending legal proceedings involving the Company and its subsidiaries, the Company's ability to maintain relationships with key suppliers, restrictions and covenants under the Company's revolving credit facility, the Company's ability to make required payments under and comply with the terms of the restructured Seller Notes, risks related to the wind-down of the Company's ADS division and the development of its ATM division, which has not generated revenues, and the potential for significant non-cash charges related to changes in the fair value of warrant liabilities as well as the other risks and uncertainties described in the Company's filings with the SEC.  XTI undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law. Readers are encouraged to review the risk factors described in XTI's filings with the SEC, including its most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and subsequent filings. 

Contacts: 

General inquiries: 
Email: contact@xtiaerospace.com 
Web: https://xtiaerospace.com/contact  

Investor Relations: 
IR@xtiaerospace.com 

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SOURCE XTI Aerospace, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What debt did XTI Aerospace restructure?

XTI Aerospace restructured approximately $4.7 million of seller notes issued on November 10, 2025, for the Drone Nerds and Anzu Robotics acquisitions. The agreement extends maturity and modifies the repayment schedule and certain financial terms.

What waiver did XTI Aerospace secure from JPMorgan Chase?

XTI Aerospace secured a cross-default waiver on its $20 million revolving credit facility with JPMorgan Chase Bank in conjunction with the seller-note restructuring.