XTI Aerospace (XTIA) has shared an update.
XTI Aerospace, Inc. has expanded its At-The-Market (ATM) offering, allowing for an additional $1.1 million in common stock sales, bringing the total potential sales to about $33.8 million. The company has already sold shares amounting to $27.4 million under this agreement. Moreover, XTI Aircraft, a subsidiary of XTI Aerospace, has entered into a letter of intent for engineering services with AVX Aircraft Company for its TriFan 600 aircraft. Additionally, there have been significant corporate actions including a warrant exchange agreement resulting in the cancellation of certain warrants in exchange for common stock, and a preferred stock exchange, further altering the company’s capital structure. The company has also decided not to renew the employment agreement of Michael Hinderberger, the CEO of XTI Aircraft. These strategic financial and management decisions are crucial for investors tracking the company’s stock and operational direction.
See more insights into XTIA stock on TipRanks’ Stock Analysis page.
