Inpixon Announces Anticipated Closing Date As After Market Close On March 12, 2024 For XTI Merger And Share 100-For-1 Consolidation; XTI Aerospace Anticipated To Begin Trading On Nasdaq Under Ticker Symbol "XTIA" As Of Market Open March 13, 2024
Portfolio Pulse from Benzinga Newsdesk
Inpixon announced the anticipated closing date for its merger with XTI Aircraft Company as March 12, 2024, after market close. Post-merger, the company will be named XTI Aerospace, Inc. and will trade on Nasdaq under the new ticker symbol 'XTIA' starting March 13, 2024. The merger aims to advance the development of the TriFan 600 vertical lift crossover airplane and continue offering RTLS technology. A 100-for-1 stock consolidation will occur immediately before the merger to meet Nasdaq listing requirements. Inpixon's CEO's entity will invest $1.5 million in equity financing in the company. The TriFan 600 aims to serve various segments of private air travel, with over 700 conditional pre-orders indicating a potential for over $7 billion in gross revenue.
March 11, 2024 | 3:54 pm
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POSITIVE IMPACT
Inpixon is set to merge with XTI Aircraft Company, transitioning to XTI Aerospace and trading under 'XTIA'. A 100-for-1 stock consolidation will occur to meet Nasdaq requirements. The merger focuses on developing the TriFan 600 airplane, with significant revenue potential indicated.
The merger and subsequent rebranding to XTI Aerospace, coupled with the stock consolidation, are significant corporate actions likely to influence investor perception and stock price. The focus on developing the TriFan 600 and the potential for substantial revenue from pre-orders present a positive outlook for the company's future, potentially leading to an increase in stock value in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
XTI Aerospace, Inc., the new entity formed from the merger of Inpixon and XTI Aircraft Company, will begin trading under the ticker 'XTIA' on March 13, 2024. The company aims to revolutionize private air travel with its TriFan 600 airplane, supported by over 700 conditional pre-orders.
As a new entrant to the market, XTI Aerospace's focus on the innovative TriFan 600 and the significant market interest demonstrated by the conditional pre-orders provide a strong foundation for potential stock growth. The anticipation surrounding the company's market debut and its future prospects in revolutionizing private air transportation could lead to positive short-term stock price movement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100