AERWINS Technologies Inc - AWIN STOCK NEWS

AERWINS Technologies Inc. (AWIN) announces a 1-for-100 reverse stock split to increase share price and comply with Nasdaq listing requirements. The split will be effective on April 2, 2024, with no change in total authorized shares.

AERWINS Technologies to establish US subsidiary in Los Angeles for redesign of XTURISMO hoverbike

AERWINS Technologies Inc. has unveiled the blueprint for XTURISMO™, a revolutionary hovercraft that combines electric cars with airborne travel. The company has received necessary approvals and accepted initial orders for the first commercialized model. AERWINS plans to scale and commercialize its design by pursuing licensing agreements with top electric automotive manufacturers. The hovercraft has the ability to integrate with many EVs and transform them into flying vehicles. The Urban Air Mobility market is projected to be $1.5 trillion by 2040 and $9 trillion by 2050.

AERWINS Technologies announced the appointment of Katie Field and Pavan Gill as independent directors. Field brings experience in strategy consulting and executive leadership, while Gill has expertise in civil construction and project management. Their strategic guidance will shape AERWINS' future direction and expansion plans.

AERWINS Technologies Inc. has appointed Kiran Sidhu as the Chairman of the Board of Directors. Sidhu brings diversified experience in multiple industries and is highly respected in management, investment, and leadership.

AERWINS Technologies Inc. will participate in the EF Hutton Global Conference on May 10-11, 2023, to showcase its air mobility platform and XTURISMO Limited Edition Hoverbike.

AERWINS Technologies has announced that its XTURISMO Limited Edition Hoverbike has won a Bronze Award at the 2023 Edison Awards in the Aerospace & Flight Technologies category. The awards celebrate innovation and excellence in product development and are determined by a panel of over 3,000 experts from various fields.

CEO Taiji Itoh expressed gratitude for the recognition, emphasizing the XTURISMO as a revolutionary product that could transform air mobility and open up new possibilities. The company continues to focus on innovation in air mobility solutions with its COSMOS platform.

AERWINS Technologies Inc. (NASDAQ: AWIN) has entered into a definitive Securities Purchase Agreement with Lind Global Fund II LP. This agreement allows AERWINS to issue up to $5 million in promissory notes convertible into common stock. The first closing has already taken place, with a Note for $2,520,000 sold for $2,100,000, along with 2,352,678 warrants at an exercise price of $0.8926 per share. Subsequent closings, subject to conditions, are anticipated in the coming weeks. EF Hutton serves as the exclusive placement agent for the notes, while Anthony L.G., PLLC acts as legal counsel to AERWINS. The company emphasizes its mission to innovate and develop air mobility solutions through their COSMOS platform and XTURISMO Hoverbike.

AERWINS Technologies Inc. (NASDAQ: AWIN) announced a strategic partnership with OUTSOURCING Inc. through a Memorandum of Understanding (MOU) for a joint venture in the Middle East, focusing on enhancing manufacturing capabilities for air mobility units. Under the agreement, OUTSOURCING will potentially invest up to ¥300 million (approx. $2.3 million) if specific conditions are met by April 30, 2023. The venture aims to establish air mobility production houses in the UAE. This partnership follows earlier agreements in the region and aligns with AERWINS’ mission to innovate within the air mobility sector.