XTI Aerospace to Host Business Update Presentation on March 25, 2024 to Outline the Company's Corporate Strategy

Rhea-AI Summary

XTI Aerospace, Inc. announces a business update presentation post-merger with Inpixon, revealing plans for the TriFan 600 aircraft with over $7 billion in anticipated revenue. CEO Scott Pomeroy leads the aggressive strategy for aircraft development.

Positive

• Successful merger with Inpixon on March 12, 2024.
• Business update presentation scheduled for March 25, 2024, to discuss corporate strategy.
• TriFan 600 aircraft with conditional pre-orders totaling over $7 billion in expected revenue.
• CEO Scott Pomeroy leading the aggressive plan for aircraft development.
• Plans to complete construction of the first full-scale piloted test aircraft and begin flight tests.
• Aiming to revolutionize aviation by combining fixed-wing business aircraft performance with helicopter convenience.

Negative

• None.

ENGLEWOOD, Colo., March 20, 2024 /PRNewswire/ -- XTI Aerospace, Inc. (NASDAQ: XTIA) ("XTI Aerospace" or the "Company") today announced it will host a business update presentation at 11:00 a.m. Eastern Time on Monday, March 25, 2024 to discuss the corporate strategy subsequent to the successful closure of the merger with Inpixon on March 12, 2024.

Join the new executive team as they outline the Company's plans to advance the revolutionary TriFan 600, a disruptive vertical takeoff and landing (VTOL) aircraft with conditional pre-orders¹ totaling more than $7 billion in anticipated gross revenue².

Under the leadership of CEO Scott Pomeroy, XTI Aerospace has embarked upon and is executing an aggressive plan to complete construction of the Company's first full-scale piloted test aircraft and commence flight tests, setting the stage for a new era in aviation that combines the performance of a fixed-wing business aircraft with the point-to-point convenience of a helicopter.

Interested parties may join the live presentation at https://www.webcaster4.com/Webcast/Page/2235/50213 or through the Investor Relations section of the Company's website (https://ir.xtiaerospace.com/). After the webcast, a replay will be available on the Investor Relations section of the website (https://ir.xtiaerospace.com/).

Footnotes

¹ Conditional pre-orders refers to a combination of conditional aircraft purchase agreements, non-binding reservation deposit agreements, options and letters of intent from potential purchasers.

² Based on XTI's current list price of $10 million per aircraft and assuming XTI is able to execute on the development program for the TriFan 600, secure FAA certification, and deliver the aircraft.

About XTI Aerospace, Inc.

XTI Aerospace is the parent company of XTI Aircraft Company (XTIAircraft.com), an aviation business based near Denver, Colorado, currently developing the TriFan 600, a fixed-wing business aircraft designed to have the vertical takeoff and landing (VTOL) capability of a helicopter, speeds of 345 mph and a range of 700 miles, creating an entirely new category – the vertical lift crossover airplane (VLCA). The Company is guided by a leadership team with decades of business experience, deep aviation industry expertise, and a proven track record successfully bringing new aircraft to market, including participation on teams that played a role in taking over 40 aircraft through FAA certification. Additionally, the Inpixon business unit (inpixon.com) of XTI Aerospace is a leader in RTLS technology with customers around the world who use the Company's location intelligence solutions in factories and other industrial facilities to help optimize operations, increase productivity, and enhance safety. For more information about XTI Aerospace, please visit XTIAerospace.com.

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 the products under development by XTI, the advantages of XTI's and RTLS's technology, the combined company'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," "estimate," "will," "expect," "intend," "plan," "target," "projects," "will," 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 Aerospace, Inc. Contacts

Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: XTIA@crescendo-ir.com 

Media/Sales/Marketing:
Saleem Zaheer
Email: contact@xtiaerospace.com
Web: XTIAerospace.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/xti-aerospace-to-host-business-update-presentation-on-march-25-2024-to-outline-the-companys-corporate-strategy-302094026.html

SOURCE XTI Aerospace, Inc.

FAQ

What is XTI Aerospace's ticker symbol?

XTI Aerospace's ticker symbol is XTIA.

When will XTI Aerospace host a business update presentation?

XTI Aerospace will host a business update presentation on March 25, 2024, at 11:00 a.m. Eastern Time.

What is the TriFan 600 aircraft?

The TriFan 600 is a revolutionary vertical takeoff and landing (VTOL) aircraft developed by XTI Aerospace.

Who is leading XTI Aerospace's aggressive plan for aircraft development?

CEO Scott Pomeroy is leading XTI Aerospace's aggressive plan for aircraft development.

What is the expected revenue from the TriFan 600 aircraft?

The TriFan 600 has conditional pre-orders totaling over $7 billion in anticipated gross revenue.