XTI Aerospace, Inc. (NASDAQ: XTIA) announced the closing of the merger between Inpixon® and XTI Aircraft Company after market close on March 12, 2024.
The newly combined Company, renamed XTI Aerospace, Inc., began trading on the Nasdaq Capital Market under the ticker symbol “XTIA” as of market open on March 13, 2024.
Focus on the Futuristic TriFan 600
XTI Aerospace, Inc. (formerly Inpixon®) is soaring into a new era after successfully merging with XTI Aircraft Company.
XTI Aerospace’s primary mission is the development and commercialization of the TriFan 600. This innovative aircraft is a fixed-wing, vertical lift crossover airplane (VLCA) designed to combine the speed and comfort of a business jet with the versatility of a helicopter.
The TriFan 600 has the potential to revolutionize private air travel, catering to a wide range of applications including business trips, medical evacuations, leisure travel, and cargo transport.
This is evidenced by the strong market interest, with over 700 conditional pre-orders received, representing a potential of over $7 billion in gross revenue upon delivery.
The TriFan 600: Revolutionizing Private Air Travel
The TriFan 600 is a game-changer for private aviation. It combines the best of both worlds:
- Fixed-wing performance: Cruise at speeds up to 345 mph and travel 700 miles on a single vertical takeoff and landing (VTOL) – that’s double the range of most similar-sized helicopters!
- Helicopter versatility: Take off and land vertically, eliminating the need for long runways. This opens up a world of possibilities, from private estates to city rooftops.
This innovative design creates a new category – the vertical lift crossover airplane (VLCA).
The TriFan 600 caters to a wide range of users, including:
- Business travelers seeking faster commutes
- Medical transport services requiring rapid response
- Leisure flyers desiring more landing options
- Cargo carriers needing efficient point-to-point delivery
The TriFan 600 current turbine engines are compatible with sustainable aviation fuel, and the company plans to integrate electric or hybrid-electric propulsion as technology advances.
Key Features
- Speed: Up to 345 mph
- Range: 700 miles (VTOL), even greater with a conventional takeoff
- Seating: Pilot plus up to 6 passengers
- Convenience: Takes off and lands vertically or conventionally
- Safety: Designed with cutting-edge technology and built by an experienced team
The TriFan 600 promises to revolutionize private air travel by offering speed, convenience, and efficiency, all in a sustainable package.
Experienced Leadership Team
XTI Aerospace boasts a leadership team with extensive experience in the aviation industry. Scott Pomeroy takes the lead as Chairman and CEO, with Michael Hinderberger heading the XTI Aircraft Company subsidiary.
Soumya Das will lead the RTLS business unit, with Brooke Martellaro serving as Chief Financial Officer.
“We are thrilled to combine our strengths and bring the revolutionary TriFan 600 to market,” commented Scott Pomeroy, chairman and CEO of XTI Aerospace.
“This merger positions XTI Aerospace for significant shareholder value creation as we achieve key milestones and progress towards commercialization.”
Solid Foundation for Growth
David Brody, founder and chairman of XTI Aircraft Company, believes the merger provides a solid platform to accelerate TriFan 600 development.
The company anticipates expanding operations and commencing flight tests with a full-scale piloted aircraft within two years, paving the way for FAA certification and commercial production.
Strategic Debt Resolution
The company also reached an agreement with Streeterville Capital. They will convert an outstanding promissory note of approximately $9.8 million into Series 9 Preferred Stock.
Maintaining the RTLS Business Unit
XTI Aerospace will continue to offer its real-time location systems (RTLS) technology to manufacturing and industrial facilities. This will enhance operational efficiency and safety for its customers.
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