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
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SOURCE XTI Aerospace, Inc.