Brief: Inpixon Enters Into Definitive Merger Agreement With XTI Aircraft Company

XTI Aerospace

25/07/2023 14:23

July 25 (Reuters) - Inpixon  INPX.O :
    * INPIXON ENTERS INTO DEFINITIVE MERGER AGREEMENT WITH XTI
AIRCRAFT COMPANY, DEVELOPER OF A VERTICAL LIFT CROSSOVER
AIRPLANE (VLCA)
    * INPIXON - ENTERPRISE VALUE OF XTI WAS ASCERTAINED BY
INDEPENDENT
FINANCIAL ADVISORY FIRM TO BE WITHIN RANGE OF $252 MILLION AND
$343 MILLION
    * INPIXON - UPON CLOSING OF TRANSACTION, COMBINED COMPANY IS
PLANNING TO OPERATE UNDER NAME XTI AEROSPACE, INC
    * INPIXON - XTI CONDITIONAL PRE-ORDERS OF MORE THAN 700
AIRCRAFT
COULD GENERATE REVENUES UP TO APPROXIMATELY $7.1 BILLION UPON
DELIVERY
    * INPIXON - MERGER AGREEMENT PROVIDES FOR XTI SHAREHOLDERS
TO OWN
ABOUT 60% OF OUTSTANDING SHARES OF COMMON STOCK OF POST
COMBINATION COMPANY
    * INPIXON - NADIR ALI AND WENDY LOUNDERMON ARE EXPECTED TO
RESIGN
AS CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER OF
INPIXON
    * INPIXON - ANTICIPATED THAT XTI'S CURRENT BOARD MEMBER AND
CFO,
SCOTT POMEROY, WILL BECOME CHAIRMAN AND CEO OF XTI AEROSPACE
    * INPIXON - MICHAEL HINDERBERGER WILL CONTINUE IN HIS
CURRENT ROLE
AS CHIEF EXECUTIVE OFFICER OF XTI AIRCRAFT COMPANY

Source text for Eikon:  ID:nPn9gysHHa 
Further company coverage:  INPX.O 

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