ENGLEWOOD, Colo., July 1, 2024 /PRNewswire/ — XTI Aerospace, Inc. (NASDAQ: XTIA) (“XTI” or the “Company”) today announced that it has entered into an agreement with FC Imperial Limited (“FCIL”), an affiliate of a private global investment consortium, FinExic Concordia Group, (“FCG” or “Investor Consortium”), for a proposed strategic equity investment for shares of convertible preferred stock (the “Investment”) of up to $55 million (the “Maximum Amount”) at a post-money valuation of $275 million (the “Locked Valuation”), with the successful consummation of the entire transaction process.
Mr. Anindya Chakraborty, leading the investment structuring for the Investment Consortium, said “For well over a year, extensive discussions were held with XTI management and XTI engineering team along with review of sector trends and technologies being developed. The Trifan is unique and perhaps the most efficient, practical, versatile and commercially viable VTOL aircraft with clear attributes of ushering in a game changing reality to the aviation industry.”
