XTI Aerospace Supplies 2d Quarter 2024 Trade Replace
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XTI Aerospace Supplies 2d Quarter 2024 Trade Replace


ENGLEWOOD, Colo., Aug. 14, 2024 /PRNewswire/ — XTI Aerospace, Inc. (NASDAQ: XTIA) (“XTI Aerospace” or the “Company”) lately pronounces a trade replace and the submitting of its quarterly document on Method 10-Q for the quarter ended June 30, 2024.

“We continue to advance the development of the TriFan 600, a fixed-wing, vertical lift crossover aircraft uniquely designed to meet the needs of the evolving aviation industry and its customers,” mentioned Scott Pomeroy, CEO of XTI Aerospace. “In the second quarter, XTI Aerospace and AVX Aircraft Company (“AVX”), a leader in advanced vertical lift solutions, announced the signing of a letter of intent, and are currently progressing towards a definitive agreement, whereby AVX’s experienced engineers will provide design, development and certification services to XTI Aerospace, reducing overall commercialization costs and potentially accelerating the timeline to first flight.”

Don Purdy, SVP trade & program building, added, “XTI Aircraft continues to progress the TriFan 600 design. Specifically, the team is focused on the C211.2 configuration update which will further optimize the aerodynamic performance of the aircraft. Also, XTI Aerospace and AVX, under an interim engineering services agreement, are collaborating on several ‘trade studies,’ such as the use of full digital control of actuators to direct the aircraft – known as ‘fly-by-wire’ – and the use of composite materials versus aluminum for various aircraft structures and surfaces. These trade studies will further refine the revolutionary design of the TriFan 600 – a category-defining aircraft.”

“In the second quarter, XTI Aerospace also announced conditional preorders for 100 TriFan 600 aircraft from Mesa Air Group,” mentioned Mr. Pomeroy. “Assuming the order is fully exercised, it would represent approximately $1 billion in revenue for XTI Aerospace, validating the interest and support we are witnessing in the market. Additionally, XTI Aerospace executed a capital distribution agreement with FC Imperial Limited for a proposed strategic equity investment of up to $55 million at a post-money valuation of $275 million, following more than one year of negotiations and due diligence. The time to commercialization of the TriFan 600 would be advanced upon closing of this transaction.”

Talk over with the not too long ago redesigned website online at XTIAerospace.com which incorporates a video from the Corporate’s founder, David Brody, sharing the Corporate’s tale and the way the TriFan vertical carry crossover aircraft is situated to develop into the flying marketplace.

Key Anticipated Milestones

Q3 2024

  • Finalize definitive assurance with AVX for additional design and building of the TriFan 600 Vertical Carry Crossover Aircraft

This fall 2024

  • Identify Alliance Perot Garden (Fortress Significance, TX) engineering places of work
  • Choose engine provider, cabin integrator and drivetrain providers

Q1 2025

  • Entire key engineering hires
  • Choose avionics provider

Q2 2025

  • Entire engineering amenities growth
  • Entire advertising and marketing demonstrator

Q3 2025

  • Entire digital/augmented truth cabin enjoy

This fall 2025

  • Entire initial design overview (PDR)

The Corporate’s quarterly document on Method 10-Q for the quarterly length ended June 30, 2024, is scheduled to be filed with the U.S. Securities and Change Fee lately. The Method 10-Q can also be to be had at the Corporate’s website online.

About XTI Aerospace, Inc. 

XTI Aerospace (XTIAerospace.com) is the dad or mum corporate of XTI Plane Corporate (XTIAircraft.com), an flying trade primarily based akin Denver, Colorado, these days growing the TriFan 600, a fixed-wing trade airplane designed to have the vertical takeoff and touchdown (VTOL) capacity of a helicopter, speeds of 345 mph and a territory of 700 miles, developing a completely unused division – the vertical carry crossover aircraft (VLCA). Moreover, the Inpixon (inpixon.com) trade unit of XTI Aerospace is a pacesetter in real-time location programs (RTLS) generation with consumers all over the world who usefulness the Corporate’s location understanding answers in factories and alternative commercial amenities to aid optimize operations, building up productiveness, and strengthen protection. For more info about XTI Aerospace, please consult with XTIAerospace.com.

Cautionary Commentary Referring to Ahead-Having a look Statements

This press drop incorporates sure “forward-looking statements” throughout the that means of america Personal Securities Litigation Reform Occupation of 1995, Category 27A of the Securities Occupation, and Category 21E of the Change Occupation. All statements alternative than statements of ancient truth contained on this press drop, together with with out limitation, statements about XTI Aerospace’s talent to reach anticipated milestones within the timeframes these days expected or in any respect, XTI Aerospace and AVX effectively negotiating and coming into right into a definitive assurance, XTI Aerospace and FC Imperial Restricted consummating their proposed transaction, Mesa Breeze Crew exercising their conditional preorder, the goods below building through XTI Aerospace, the benefits of XTI Aerospace’s generation, and XTI Aerospace’s consumers, plans and methods are forward-looking statements.

A few of these forward-looking statements may also be recognized through the usefulness of forward-looking phrases, together with “believe,” “continue,” “could,” “would,” “will,” “estimate,” “expect,” “intend,” “plan,” “target,” “projects,” or the negatives of those phrases or diversifications of them or matching expressions. All forward-looking statements are matter to dangers, uncertainties, and alternative components which might motive original effects to fluctuate materially from the ones expressed or implied through such forward-looking statements. All forward-looking statements are primarily based upon estimates, forecasts, and guesses that, era thought to be affordable through XTI Aerospace and its control, are inherently unsure, and lots of components might motive the original effects to fluctuate materially from stream expectancies. XTI Aerospace undertakes deny legal responsibility to revise any forward-looking statements to bring to replicate occasions or instances that would possibly due to this fact stand. Readers are suggested to scrupulously overview and imagine the danger components mentioned from life to life in XTI Aerospace’s filings with the SEC, together with the ones components mentioned below the caption “Risk Factors” in its annual document on Method 10-Okay for the age ended December 31, 2023, filed with the Securities and Change Fee (the “SEC”) on April 16, 2024, its quarterly document on Method 10-Q for the quarterly length ended June 30, 2024, filed with the SEC lately, and in next reviews filed with or furnished to the SEC.

Contacts

Basic inquiries:
E-mail: [email protected] 
Internet: https://xtiaerospace.com/contact/ 

Investor Members of the family:
Crescendo Communications
Tel: +1 212-671-1020
E-mail: [email protected]

SOURCE XTI Aerospace, Inc.



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