Former US ambassador Chapman joins XTI Aerospace advisory board

ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ:XTIA), a $32.4 million market cap aerospace company that has seen an 8.8% stock price increase over the past week, announced Tuesday that retired U.S. Ambassador Todd Chapman has joined its Corporate Advisory Board.

Chapman brings over 30 years of diplomatic experience, having served as U.S. Ambassador to Brazil and Ecuador, as well as Acting Assistant Secretary of State for Political-Military Affairs. According to InvestingPro data, XTI maintains a strong balance sheet with more cash than debt, though the company is currently experiencing rapid cash burn.

According to the company’s press release, Chapman’s connections in Latin America, particularly in Brazil, will provide XTI with strategic insight as it expands internationally. Brazil is home to aerospace companies including Embraer S.A., AEL Sistemas, and XMobots. The expansion comes as XTI reports impressive revenue growth of 142.6% over the last twelve months, with a healthy gross profit margin of 62.7%.

"Ambassador Chapman’s appointment is an extraordinary addition to XTI’s Advisory Board," said Michael Tapp, Chief Operating Officer of XTI and Chairman of the Advisory Board.

Chapman’s diplomatic career culminated with his service as U.S. Ambassador to Brazil, where he worked on bilateral cooperation in trade, investment, and technology. He currently holds advisory roles with organizations including Inter&Co, the Krach Institute for Tech Diplomacy at Purdue University, and serves as a non-resident senior adviser at the Center for Strategic and International Studies.

"Brazil represents one of the most important aerospace hubs in the world," Chapman said in the statement. "I am honored to join XTI Aerospace’s Advisory Board at such a pivotal time in the company’s growth."

XTI Aerospace is developing the TriFan 600, described as a fixed-wing business aircraft designed to have vertical takeoff and landing capability with cruising speeds over 300 mph and a range up to 1,000 miles.

The company’s Inpixon business unit provides real-time location systems technology for industrial facilities. For deeper insights into XTI’s financial health and growth prospects, InvestingPro subscribers have access to over 10 additional ProTips and comprehensive financial metrics.

In other recent news, XTI Aerospace, Inc. has successfully closed a public offering, raising $20 million in gross proceeds. This offering included 12.5 million shares of common stock and warrants, with an exercise price of $2.00 per share, which are immediately exercisable for five years. This capital is expected to fund the development of their aircraft. Additionally, XTI Aerospace has appointed Steve Zohrabian as Executive Vice President to lead the development of its VTOL aircraft, the TriFan 600, as the company moves toward its first flight and commercialization. In a show of support for industry innovation, XTI Aerospace has backed the FAA’s Electric Vertical Takeoff and Landing Integration Pilot Program, which aims to modernize certification processes. Furthermore, XTI Aerospace has scheduled its 2025 Annual Meeting of Stockholders for November 14, with a deadline of September 27 for shareholders to submit proposals. These developments reflect XTI Aerospace’s ongoing efforts in advancing its aircraft technology and engaging with stakeholders.

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