ENGLEWOOD, Colo., Feb. 12,
2025 /PRNewswire/ -- XTI Aerospace, Inc.
(NASDAQ: XTIA) ("XTI Aerospace" or the "Company"), a pioneer in
advanced aircraft design, today announced that it has received
formal notification from The Nasdaq Stock Market LLC ("Nasdaq")
confirming that the company has regained compliance with the
minimum bid price requirement set forth in Nasdaq Listing Rule
5550(a)(2).
This notification follows XTI Aerospace's recent efforts to
address its non-compliance status, which was triggered when the
company's common stock failed to maintain a minimum bid price of
$1.00 per share over the required
consecutive 30-business-day period.
"We are pleased to have achieved compliance with Nasdaq's
listing requirements," said Brooke
Turk, CFO of XTI Aerospace. "This announcement further
evidences the progress we've made as we continue executing on our
long-term growth strategy, and we look forward to delivering
continued value to our shareholders."
Nasdaq's confirmation acknowledges that the closing bid price of
XTI Aerospace's common stock has been at $1.00 per share or greater for more than 10
consecutive business days, as required to regain compliance.
XTI Aerospace remains fully focused on executing its strategic
initiatives to drive growth, deliver long-term value to
shareholders, and continue advancing its industry-leading solutions
in vertical takeoff and landing (VTOL) aircraft technology.
About XTI Aerospace, Inc.
XTI Aerospace, Inc. (XTIAerospace.com) (NASDAQ: XTIA) is the
parent company of XTI Aircraft Company, an aviation business based
near Denver, Colorado, currently
developing the TriFan 600, a fixed-wing business aircraft designed
to have the vertical takeoff and landing ("VTOL") capability of a
helicopter, speeds of 345 mph and a range of 700 miles.
Additionally, the Inpixon (inpixon.com) business unit of XTI
Aerospace is a leader in real-time location systems ("RTLS")
technology with customers around the world who use the Company's
location intelligence solutions in factories and other industrial
facilities to help optimize operations, increase productivity, and
enhance safety. For more information about XTI Aerospace, please
visit XTIAerospace.com, and follow the company
on LinkedIn, X, and YouTube.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act,
and Section 21E of the Exchange Act. All statements other than
statements of historical fact contained in this press release,
including without limitation, statements about the products under
development by XTI, the advantages of XTI's technology, and XTI's
customers, plans and strategies are forward-looking statements.
Some of these forward-looking statements can be identified by
the use of forward-looking words, including "believe," "continue,"
"could," "would," "will," "estimate," "expect," "intend," "plan,"
"target," "projects," or the negatives of these terms or variations
of them or similar expressions. All forward-looking statements are
subject to risks, uncertainties, and other factors which could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements. All forward-looking
statements are based upon estimates, forecasts, and assumptions
that, while considered reasonable by XTI Aerospace and its
management, are inherently uncertain, and many factors may cause
the actual results to differ materially from current expectations.
XTI undertakes no obligation to revise any forward-looking
statements in order to reflect events or circumstances that might
subsequently arise. Readers are urged to carefully review and
consider the risk factors discussed from time to time in XTI's
filings with the SEC, including those factors discussed under the
caption "Risk Factors" in its most recent annual report on Form
10-K, filed with the SEC on April 16,
2024, and in subsequent reports filed with or furnished to
the SEC.
Contacts
General inquiries:
Email: contact@xtiaerospace.com
Web: https://xtiaerospace.com/contact/
Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: XTIA@crescendo-ir.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/xti-aerospace-regains-compliance-with-nasdaq-listing-requirements-302374443.html
SOURCE XTI Aerospace, Inc.
