XTI Aerospace Updates Shareholders on 2025 Strategy to Strengthen Leadership in Aviation Innovation and Announces Share Consolidation
XTI Aerospace (NASDAQ: XTIA) has announced a strategic update for 2025, including a 1-for-250 share consolidation of its common stock. The consolidation, effective January 10, 2025, aims to regain Nasdaq compliance and strengthen the company's position for long-term growth.
Following improvements to its balance sheet and cap table structure in 2024, XTI plans to raise capital and pursue strategic acquisitions. The company is focusing on expanding its leadership in the VTOL industry, particularly with its flagship product, the TriFan 600, following the FAA's formalization of the powered-lift category.
The share consolidation will maintain shareholders' ownership percentages, with fractional shares rounded up. Outstanding stock options and warrants will be adjusted accordingly, while the number of authorized shares and par value remain unchanged. Computershare will manage the exchange process for shareholders of record.
XTI Aerospace (NASDAQ: XTIA) ha annunciato un aggiornamento strategico per il 2025, inclusa una consolidazione delle azioni ordinarie in un rapporto di 1 a 250. La consolidazione, che avr脿 effetto dal 10 gennaio 2025, mira a ripristinare la conformit脿 con Nasdaq e a rafforzare la posizione dell'azienda per una crescita a lungo termine.
Dopo aver migliorato il proprio bilancio e la struttura del capitale nel 2024, XTI prevede di raccogliere capitali e perseguire acquisizioni strategiche. L'azienda si sta concentrando sull'espansione della propria leadership nel settore VTOL, in particolare con il suo prodotto di punta, il TriFan 600, a seguito della formalizzazione da parte della FAA della categoria a sollevamento potenziato.
La consolidazione delle azioni manterr脿 le percentuali di propriet脿 degli azionisti, con le azioni frazionarie arrotondate per eccesso. Le opzioni azionarie e i warrant in circolazione saranno adeguati di conseguenza, mentre il numero di azioni autorizzate e il valore nominale rimarranno invariati. Computershare gestir脿 il processo di scambio per gli azionisti registrati.
XTI Aerospace (NASDAQ: XTIA) ha anunciado una actualizaci贸n estrat茅gica para 2025, que incluye una consolidaci贸n de acciones ordinarias a una relaci贸n de 1 por 250. La consolidaci贸n, que entrar谩 en vigor el 10 de enero de 2025, tiene como objetivo restaurar el cumplimiento con Nasdaq y fortalecer la posici贸n de la empresa para un crecimiento a largo plazo.
Luego de mejorar su balance y la estructura de capital en 2024, XTI planea levantar capital y buscar adquisiciones estrat茅gicas. La empresa se enfoca en expandir su liderazgo en la industria VTOL, particularmente con su producto insignia, el TriFan 600, tras la formalizaci贸n de la categor铆a de elevaci贸n de potencia por parte de la FAA.
La consolidaci贸n de acciones mantendr谩 los porcentajes de propiedad de los accionistas, con acciones fraccionarias redondeadas hacia arriba. Las opciones de acciones y los warrants en circulaci贸n se ajustar谩n en consecuencia, mientras que el n煤mero de acciones autorizadas y el valor nominal permanecer谩n sin cambios. Computershare gestionar谩 el proceso de intercambio para los accionistas registrados.
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XTI Aerospace (NASDAQ: XTIA) a annonc茅 une mise 脿 jour strat茅gique pour 2025, incluant une consolidation des actions ordinaires au ratio de 1 pour 250. La consolidation, qui prendra effet le 10 janvier 2025, vise 脿 r茅tablir la conformit茅 avec Nasdaq et 脿 renforcer la position de l'entreprise pour une croissance 脿 long terme.
Apr猫s des am茅liorations de son bilan et de sa structure de capital en 2024, XTI pr茅voit de lever des fonds et de poursuivre des acquisitions strat茅giques. L'entreprise se concentre sur l'茅largissement de sa position de leader dans l'industrie VTOL, en particulier avec son produit phare, le TriFan 600, suite 脿 la formalisation par la FAA de la cat茅gorie de levage motoris茅.
La consolidation des actions maintiendra les pourcentages de propri茅t茅 des actionnaires, avec des actions fractionnaires arrondies 脿 l鈥檈ntier sup茅rieur. Les options d'achat d'actions et les bons de souscription en circulation seront ajust茅s en cons茅quence, tandis que le nombre d'actions autoris茅es et la valeur nominale resteront inchang茅s. Computershare g茅rera le processus d'茅change pour les actionnaires enregistr茅s.
XTI Aerospace (NASDAQ: XTIA) hat ein strategisches Update f眉r 2025 angek眉ndigt, das eine Konsolidierung der Stammaktien im Verh盲ltnis 1 zu 250 umfasst. Die Konsolidierung, die am 10. Januar 2025 in Kraft tritt, zielt darauf ab, die Nasdaq-Konformit盲t wiederherzustellen und die Position des Unternehmens f眉r langfristiges Wachstum zu st盲rken.
Nach Verbesserungen in der Bilanz und der Kapitalstruktur im Jahr 2024 plant XTI, Kapital zu beschaffen und strategische Akquisitionen zu verfolgen. Das Unternehmen konzentriert sich darauf, seine F眉hrungsposition in der VTOL-Industrie auszubauen, insbesondere mit seinem Flaggschiffprodukt, dem TriFan 600, nachdem die FAA die Kategorie f眉r motorisiertes Heben formalisiert hat.
Die Aktienkonsolidierung wird die Eigentumsanteile der Aktion盲re aufrechterhalten, wobei Bruchst眉cke nach oben gerundet werden. Ausstehende Aktienoptionen und Warrants werden entsprechend angepasst, w盲hrend die Anzahl der genehmigten Aktien und der Nennwert unver盲ndert bleiben. Computershare wird den Austauschprozess f眉r eingetragene Aktion盲re verwalten.
- Implementation of 1-for-250 share consolidation to regain Nasdaq compliance
- Significant improvements to balance sheet and cap table structure in 2024
- Strategic positioning in the newly formalized FAA powered-lift category
- Need for significant share consolidation indicates previous stock price weakness
- Risk of delisting from Nasdaq due to minimum bid price requirement
Insights
The 1-for-250 share consolidation represents a critical financial restructuring move for XTI Aerospace. This reverse split aims to boost the stock price artificially to meet Nasdaq's minimum bid requirements, typically
The timing aligns with the FAA's formalization of the powered-lift category, potentially positioning XTI to capitalize on new market opportunities. However, the extreme ratio (1:250) suggests significant underlying financial pressures. Most reverse splits use lower ratios like 1:10 or 1:20. This aggressive consolidation could signal desperation to maintain listing status and raise capital.
The rounding up of fractional shares to whole shares, while seeming beneficial to small shareholders, will create minor dilution. The automatic adjustment of options and warrants maintains relative positions but could impact trading liquidity in these instruments.
The FAA's formalization of the powered-lift category marks a pivotal regulatory milestone for VTOL development. XTI's TriFan 600 program could benefit from this clearer regulatory framework, potentially accelerating certification pathways. However, the company appears to be in early stages compared to competitors, with no mention of prototype testing or certification progress.
The strategic focus on powered-lift aircraft aligns with industry trends, but XTI faces intense competition from well-funded players like Joby Aviation and Archer Aviation, who have already achieved significant development milestones. The lack of specific technical achievements or development timelines in this update raises concerns about XTI's competitive position in the rapidly evolving VTOL market.
XTI Aerospace believes it is entering a transformative phase in its development. With the Federal Aviation Administration (FAA) formalization of the powered-lift category, the Company sees substantial opportunity to expand its leadership position within the VTOL industry. XTI views the recent by the FAA regarding the powered-lift category as a clear sign that a new era of aviation is underway, and XTI is positioning itself to play an integral role in the market through strategic development advances.
During 2024 XTI has been able to make significant improvements to its balance sheet and cap table structure. As a result, with a more robust financial platform, XTI believes it will be well-equipped to raise capital, pursue strategic acquisitions, and continue to progress its efforts towards enhancing its leadership position in the VTOL and powered-lift markets. These efforts will support the Company's vision of becoming a global leader in aviation development by accelerating its technological and market footprint.
"We're excited to take this next step as we continue to execute on our strategy to become a leader in VTOL development within the powered lift category," said Scott Pomeroy, Chairman and CEO of XTI Aerospace. "The share consolidation is a necessary part of our plan to build a solid foundation that will support our growth initiatives, increase shareholder value, and enable us to capitalize on the tremendous potential of the aviation market transformation we believe is underway."
XTI Aerospace's long-term strategy includes an enhanced focus on the TriFan 600, its flagship product, while also seeking to expand its capabilities within the broader powered-lift category. The Company is building a comprehensive foundation for future growth and is excited about the significant opportunities ahead.
In connection with the consolidation of the Company's Common Stock, every two-hundred-fifty (250) shares of its outstanding Common Stock will automatically be combined into one (1) share of Common Stock. The Common Stock will begin trading on a split-adjusted basis with the new CUSIP number 98423K405 on The Nasdaq Capital Market under the current ticker symbol "XTIA" when the market opens on January 10, 2025. The share consolidation was approved by the Company's shareholders at the Company's 2024 Annual Meeting, held on December 27, 2024.
Any fractional shares resulting from the consolidation will be rounded up to the nearest whole share of Common Stock. The exercise prices and the number of shares issuable upon exercise, of the Company's outstanding stock options and warrants, will be adjusted in accordance with their respective terms. The number of authorized shares of Common Stock and the par value per share will remain unchanged. The share consolidation will affect all shareholders uniformly and will not affect any shareholder's ownership percentage of the Company's shares, with the exception of those holders of fractional shares.
Computershare Trust Company, N.A. ("Computershare"), the Company's transfer agent, will act as the exchange agent for the share consolidation. Computershare will provide shareholders of record with instructions for the exchange of their stock certificates. Shareholders holding their shares in book-entry form and/or owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the share consolidation, subject to their brokers' particular processes, and will not be required to take any action in connection with the share consolidation.
About XTI Aerospace听
XTI Aerospace (XTIAerospace.com) (NASDAQ:听) is the parent company of XTI Aircraft Company, an aviation business based near听Denver,
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, 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.听Such risks, uncertainties, and other factors include, but are not limited to, the Company's ability to meet the development and commercialization schedule with respect to the TriFan 600, the Company's ability to secure required certifications, including FAA certification, for the TriFan 600 and/or any other aircraft the Company develops, changes in laws and regulations (including FAA regulations) that may impose additional costs and compliance burdens on the Company's operations, the Company's ability to obtain adequate financing in the future as needed, competition, and general economic conditions. In addition, the Company has requested a hearing before the Nasdaq Hearings Panel to appeal Nasdaq's determination to delist the Common Stock as a result of the Company's non-compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stock Rule"). At the hearing, to be held on January 9, 2025, the Company will present its plan to regain compliance with The Nasdaq Capital Market's
Contacts
General inquiries:
Email: contact@xtiaerospace.com
Web:
Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: XTIA@crescendo-ir.com
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FAQ
When will XTIA's 1-for-250 share consolidation take effect?
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