XTI Aerospace has completed its merger with Inpixon and the combined company, named XTI Aerospace, has begun trading on the Nasdaq Capital Market under the ticker symbol XTIA. XTI Aerospace will focus on the development and commercialisation of the fixed-wing, vertical lift TriFan 600, as well as continuing to offer XTI's real-time location systems (RTLS) technology to manufacturing and other industrial facilities.

Scott Pomeroy has been appointed chairman and CEO of XTI Aerospace; Michael Hinderberger will continue in his role as CEO of XTI Aircraft, a subsidiary of XTI Aerospace; Soumya Das will serve as CEO of the RTLS business unit of XTI Aerospace; and Brooke Martellaro will be the CFO of XTI Aerospace. Nadir Ali and Wendy Loundermon have resigned as CEO and CFO of XTI Aerospace (formerly Inpixon).

Pomeroy says: "We're thrilled to have successfully combined our companies. XTI Aerospace will be focused on bringing the distinctive TriFan 600 to market and meeting our performance goals as a fixed-wing business aircraft that will provide the point-to-point convenience of a helicopter. We expect the TriFan 600 to be able to serve nearly every segment of private air travel including business, medevac, leisure and cargo. Demonstrating market demand, we've secured over 700 conditional pre-order reservations and indications of interest from a variety of customer types, which have the potential to generate over $7 billion in gross revenue upon delivery of the aircraft. We believe, with the completion of this merger, XTI Aerospace is positioned to drive value for shareholders as we execute on key milestones and progress toward commercialisation. In addition, our leadership team is comprised of aviation industry veterans who bring a deep knowledge and understanding of the market. This is a transformational step in the company's history, and we look forward to the continued execution of our business strategy and to bringing the TriFan 600 to market."

David Brody, founder and chairman of XTI Aircraft Company, adds: "We believe this merger provides the company with a solid foundation on which we can accelerate our development of the TriFan 600. We expect to be in a position to expand our operations, move forward on building our first full-scale piloted test aircraft and commencing flight tests within about two years, as we continue our efforts toward achieving FAA certification and commercial production."

Concurrent with the transaction close, an entity controlled by the outgoing CEO Nadir Ali has invested $1.5 million in equity financing in the company and acquired approximately 1,500 shares of its new Series 9 Preferred Stock. Ali says: "We are pleased to have completed the transformational merger to create XTI Aerospace. We worked tirelessly to identify strategic alternatives that we believe have the potential to maximise value for our shareholders, and we could not be more excited about this latest transaction. We are very encouraged by the progress made to date and, as an investor, I look forward to witnessing the contributions of the new leadership team."

The company's RTLS business unit will continue to offer real-time location systems technology products and services to manufacturing and other industrial facilities. The RTLS products and services provide streamlined operations, greater efficiency and improved safety for its customers.