ENGLEWOOD, Colo., March 18, 2025 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA) (“XTI Aerospace” or the “Company”), a pioneer in advanced aircraft design, today announced that its board of directors has authorized management to implement a share repurchase program to acquire up to $5 million of the Company’s common stock. The program will be aimed at addressing what the Company believes is an undervaluation of its common stock.
By the authorization, XTI Aerospace may purchase common stock by way of open market transactions, through privately negotiated transactions, or by other means including through the use of trading plans intended to qualify under Rule 10b-18 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing, total value of stock repurchases, and aggregate number of shares repurchased will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. The share repurchase program will have an initial term of twelve (12) months, which may be extended to eighteen (18) months. The share repurchase program may be suspended or discontinued at any time and does not obligate the Company to acquire any amount of common stock.
The Company had approximately 3.7 million shares of common stock outstanding as of March 18, 2025.
“The decision to implement a share buyback program reflects our strong confidence in the intrinsic value of XTI Aerospace and our belief in its future potential,” said Scott Pomeroy, Chairman and CEO of XTI Aerospace. “We are committed to delivering long-term value to our shareholders, and our continued progress toward achieving market leadership reinforces our confidence in XTI’s long-term success.”
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