Inpixon and XTI Aircraft Agree to Merge


By Chris Wack

Inpixon has announced its agreement to merge with XTI Aircraft, a leading aviation company that specializes in the development of the TriFan 600. This groundbreaking aircraft features a fixed-wing design and vertical takeoff and landing capabilities.

Before the merger, Inpixon shares were halted at 15 cents a share during premarket trading. The independent financial advisory firm has determined that XTI has an enterprise value ranging from $252 million to $343 million.

If the merger is successfully completed, the newly formed publicly traded company will have two primary objectives. The first is to bring the TriFan 600 to market, an aircraft with incredible potential for revolutionizing air travel. Additionally, the company will continue to provide its cutting-edge real-time location system technology to factories and warehouses, enhancing operational efficiency and safety.

The TriFan 600 has already garnered substantial interest, with over 700 conditional pre-orders received through aircraft purchase agreements, non-binding reservation deposit agreements, and options. Based on the current list price of $10 million per aircraft, these pre-orders represent a staggering potential revenue of up to $7.1 billion.

Following the merger, XTI shareholders will hold a majority stake of 60% in the combined company, while Inpixon shareholders will retain 40% of the outstanding shares.

Upon completion of the transaction, the newly formed company plans to operate under the name XTI Aerospace and trade on the Nasdaq Capital market under the symbol XTIA.

As part of this transition, Inpixon’s chief executive officer, Nadir Ali, and chief financial officer, Wendy Loundermon, are expected to step down from their positions. It is anticipated that Scott Pomeroy, XTI’s current board member and chief financial officer, will assume the role of chairman and chief executive officer at XTI Aerospace. Furthermore, XTI founder David Brody is set to join the board of directors.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

Diaceutics Reports Strong Revenue Growth and Confirms Full-Year Outlook

Next Post

Tractor Supply Co. Faces Downgrade Ahead of Disappointing Quarterly Results

Related Posts