XTI Aerospace Forms Corporate Advisory Board
XTI Aerospace (NASDAQ: XTIA) has formed a Corporate Advisory Board and appointed Michael Tapp as its Chairman and Senior Advisor. This move aims to evaluate strategic opportunities and capitalize on strong demand for the TriFan 600. CEO Scott Pomeroy believes there's a disconnect between XTI's current stock price and valuations from credible private parties. Tapp, an operating partner at Palingen Capital, will assemble a team of industry leaders to provide insights on XTI's corporate direction as it enters the next development phase towards commercialization. Tapp brings extensive experience from roles at Interstate Battery, HBC Investments, and various growth-stage companies.
XTI Aerospace (NASDAQ: XTIA) ha costituito un Corporate Advisory Board e ha nominato Michael Tapp come suo Presidente e Senior Advisor. Questa mossa mira a valutare le opportunità strategiche e a capitalizzare la forte domanda per il TriFan 600. Il CEO Scott Pomeroy ritiene che ci sia una discrepanza tra l'attuale prezzo delle azioni di XTI e le valutazioni di parti private credibili. Tapp, partner operativo di Palingen Capital, assemblerà un team di leader del settore per fornire approfondimenti sulla direzione aziendale di XTI mentre entra nella prossima fase di sviluppo verso la commercializzazione. Tapp porta con sé una vasta esperienza da ruoli presso Interstate Battery, HBC Investments e diverse aziende in fase di crescita.
XTI Aerospace (NASDAQ: XTIA) ha formado un Corporate Advisory Board y ha nombrado a Michael Tapp como su Presidente y Asesor Senior. Este movimiento tiene como objetivo evaluar oportunidades estratégicas y aprovechar la fuerte demanda del TriFan 600. El CEO Scott Pomeroy cree que hay una desconexión entre el precio actual de las acciones de XTI y las valoraciones de partes privadas creíbles. Tapp, socio operativo en Palingen Capital, reunirá un equipo de líderes de la industria para proporcionar ideas sobre la dirección corporativa de XTI mientras entra en la próxima fase de desarrollo hacia la comercialización. Tapp aporta una amplia experiencia de roles en Interstate Battery, HBC Investments y diversas empresas en etapas de crecimiento.
XTI 항공우주 (NASDAQ: XTIA)는 기업 자문 위원회를 구성하고 마이클 탭을 의장 겸 수석 고문으로 임명했습니다. 이 조치는 전략적 기회를 평가하고 TriFan 600에 대한 강력한 수요를 활용하기 위한 것입니다. CEO 스콧 포메로이는 XTI의 현재 주가와 신뢰할 수 있는 민간 파트너들의 가치 평가 간에 괴리가 있다고 믿고 있습니다. 탭은 팔린겐 캐피탈의 운영 파트너로서, 상업화 단계로 나아가기 위한 다음 개발 단계에 진입하면서 XTI의 기업 방향에 대한 통찰을 제공할 업계 리더들로 구성된 팀을 구성할 것입니다. 탭은 인터스테이트 배터리, HBC 투자 및 다양한 성장 단계 회사에서의 역할을 통해 축적한 폭넓은 경험을 가지고 있습니다.
XTI Aerospace (NASDAQ: XTIA) a formé un Corporate Advisory Board et a nommé Michael Tapp comme son président et conseiller senior. Ce mouvement vise à évaluer les opportunités stratégiques et à tirer parti de la forte demande pour le TriFan 600. Le PDG Scott Pomeroy pense qu'il existe un décalage entre le prix actuel des actions d'XTI et les évaluations de parties privées crédibles. Tapp, partenaire opérationnel chez Palingen Capital, rassemblera une équipe de leaders de l'industrie pour fournir des informations sur la direction d'XTI alors que l'entreprise entre dans la prochaine phase de développement vers la commercialisation. Tapp apporte une vaste expérience acquise dans des rôles chez Interstate Battery, HBC Investments et diverses entreprises en phase de croissance.
XTI Aerospace (NASDAQ: XTIA) hat ein Corporate Advisory Board gegründet und Michael Tapp zu seinem Vorsitzenden und Senior Advisor ernannt. Dieser Schritt zielt darauf ab, strategische Chancen zu bewerten und von der starken Nachfrage nach dem TriFan 600 zu profitieren. CEO Scott Pomeroy glaubt, dass es eine Diskrepanz zwischen dem aktuellen Aktienkurs von XTI und den Bewertungen von glaubwürdigen privaten Parteien gibt. Tapp, ein operativer Partner bei Palingen Capital, wird ein Team von Branchenführern zusammenstellen, um Einblicke in die Unternehmensausrichtung von XTI zu bieten, während das Unternehmen in die nächste Entwicklungsphase zur Kommerzialisierung eintritt. Tapp bringt umfangreiche Erfahrungen aus Positionen bei Interstate Battery, HBC Investments und verschiedenen Wachstumsunternehmen mit.
- Formation of Corporate Advisory Board to evaluate strategic opportunities
- Appointment of experienced executive Michael Tapp as Advisory Board Chairman and Senior Advisor
- Strong demand reported for TriFan 600 from industry incumbents
- Potential undervaluation of company stock compared to private party valuations
- Current stock price potentially undervaluing the company
Michael Tapp Named Advisory Board Chairman and Senior Advisor
Newly Formed Advisory Board to Help Evaluate Strategic Opportunities
"We have begun an exciting new phase in the growth of XTI Aerospace and we have determined that it is time to evaluate our strategic opportunities to best capitalize on strong demand for the TriFan 600 from industry incumbents," said Scott Pomeroy, Chairman and CEO of XTI. "We believe there is a disconnect between the value of XTI's current stock price and the valuations that have been ascribed to XTI by multiple, credible private parties and Michael Tapp will provide guidance to our Board of Directors through the XTI Corporate Advisory Board as we evaluate our strategic pathways."
"XTI innovations represent an inflection point in private regional, medical and military aviation, and I am excited to be part of the team behind it," commented Michael Tapp, newly appointed Chairman of the XTI Corporate Advisory Board and Senior Advisor to XTI. "I have been tasked with assembling a team of key leaders across the industries that demand the capabilities of the TriFan 600 who will provide insights as we advise the XTI Board of Directors in evaluating its corporate direction as XTI enters the next development phase in furtherance of commercialization."
Mr. Tapp is an operating partner for Palingen Capital and has served in a similar role for HBC Investments, a private equity firm, after almost a decade of leadership roles at Interstate Battery. While at Interstate, he was an officer on the senior executive team, the President of Interstate's multi-unit franchise system, and the President of Interstate's industrial power management business. He also has contributed to the Investment Committee of the SBoTX Foundation as well as to the boards of directors and corporate advisory boards of several growth stage companies with international footprints.
Before joining Interstate, Mr. Tapp held senior executive roles at both operating and private equity organizations while serving on the Executive Committee of the Center for New Ventures and Entrepreneurship at Texas A&M University's Mays School of Business.
Mr. Tapp is an active member of the Young Presidents' Organization (YPO) and the National Association of Corporate Directors (NACD).
About XTI Aerospace, Inc.
XTI Aerospace (XTIAerospace.com) (NASDAQ: XTIA) is the parent company of XTI Aircraft Company, an aviation business based near
For more information about XTI Aerospace, please visit XTIAerospace.com, and follow the company on LinkedIn, 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, 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, which include, but are not limited to, the process in which XTI engages to evaluate strategic opportunities; the terms, timing, structure, benefits and costs of any [strategic opportunity] and whether one will be consummated at all; the impact of any [strategic opportunity] on the Company; and the risk that XTI's conditional pre-orders are canceled, modified, delayed or not placed and that XTI must return the refundable deposits. 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.
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