XTI Aerospace (XTIA) has issued an update.
A strategic corporate maneuver unfolded as a company executed a reverse stock split, changed its name to XTI Aerospace, Inc., and introduced non-convertible Series 9 Preferred Stock offering a 10% return, enhancing its financial architecture. This series of changes, including executive and board member reshuffling, aims to comply with NASDAQ’s minimum bid price rule. The company also settled a promissory note by issuing preferred stock and made amendments to its bylaws to create staggered board terms, reflecting a dynamic approach to governance and compliance post-merger.
For detailed information about XTIA stock, go to TipRanks’ Stock Analysis page.
