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XTI Aerospace, Inc. (NASDAQ:XTIA), currently trading at $1.50 and showing a market capitalization of $30.28 million, announced Wednesday that its 2025 Annual Meeting of Stockholders will be held virtually on November 14. The company, which has seen its stock price decline by 97% over the past year according to InvestingPro data, issued a press release statement included in a Securities and Exchange Commission filing, stating that shareholders of record as of the close of business on Wednesday will be entitled to receive notice of and vote at the meeting.
The company stated that the meeting date is more than 30 days before the anniversary of its 2024 Annual Meeting. As a result, XTI Aerospace has set September 27 as the deadline for shareholders to submit proposals or director nominations for consideration at the 2025 Annual Meeting. InvestingPro analysis reveals the company is rapidly burning through cash and currently holds a weak overall financial health score, factors shareholders may want to consider when preparing their proposals. Proposals must be received by the company’s Secretary at its principal executive offices by the close of business on that day to be eligible for inclusion in the company’s proxy materials under Rule 14a-8 of the Securities Exchange Act of 1934.
Shareholders seeking to bring business before the meeting outside of Rule 14a-8, or to nominate a director, must also submit written notice by September 27. Any such proposals or nominations must comply with requirements outlined in the company’s bylaws.
Additionally, shareholders intending to solicit proxies in support of director nominees other than those nominated by XTI Aerospace must provide notice that meets the requirements of Rule 14a-19 under the Exchange Act by September 27.
The company’s common stock is listed on the Nasdaq Capital Market under the symbol XTIA. The information is based on a press release statement included in a recent SEC filing.
In other recent news, XTI Aerospace has successfully closed a public offering, raising $20 million in gross proceeds. This financial move involved the issuance of 12.5 million shares of common stock and warrants priced at $1.60 per share. These warrants, which are immediately exercisable, allow the purchase of an additional 12.5 million shares at $2.00 each over the next five years. The funds are intended to support the development of the TriFan 600 aircraft, as well as other corporate purposes. Additionally, XTI Aerospace has shown support for the FAA’s new Electric Vertical Takeoff and Landing Integration Pilot Program, which aims to modernize certification processes for powered-lift aircraft. The company has also introduced a Founders Club for early adopters of the TriFan 600, with launch events scheduled in Palm Beach, Dallas, and Denver. This initiative is designed to attract aviation enthusiasts interested in early ownership opportunities. There are no current commitments for business or technology acquisitions, though the company has indicated potential interest in such opportunities.
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