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XTI Aerospace, Inc. (NASDAQ:XTIA), a small-cap aerospace company with a market capitalization of $35.24 million, announced that its board of directors adopted amended and restated bylaws, effective August 13, 2025. The changes were disclosed in a press release statement and detailed in a filing with the Securities and Exchange Commission. According to InvestingPro data, the company currently maintains a weak financial health score, with analysts anticipating sales decline in the current year.
According to the company, the revised bylaws modernize and clarify existing provisions to better reflect common practices among publicly traded Nevada corporations. Key updates include the establishment of advance notice procedures and disclosure requirements for shareholders who wish to nominate director candidates or submit proposals for other business matters. These governance changes come at a challenging time for XTI Aerospace, as InvestingPro analysis reveals the company is quickly burning through cash, though it maintains more cash than debt on its balance sheet.
The amendments also remove the cap on the maximum number of directors who may serve on the board. In addition, shareholders will no longer be able to take action by written consent in lieu of a meeting.
The updated bylaws designate the Eighth Judicial District Court of Clark County, Nevada, or another appropriate court in Nevada, as the exclusive forum for certain legal actions, including derivative lawsuits and claims alleging breaches of fiduciary duty by company directors, officers, or employees. For claims arising under the Securities Act of 1933, the federal district courts of the United States are designated as the exclusive forum, unless the company consents in writing to an alternative.
XTI Aerospace’s common stock is listed on the Nasdaq Capital Market under the symbol XTIA. The company is incorporated in Nevada.
The information in this article is based on a press release statement and the company’s filing with the Securities and Exchange Commission.
In other recent news, XTI Aerospace has announced the completion of a public offering, generating approximately $18.4 million in gross proceeds before deducting expenses. The offering included the full exercise of an over-allotment option, resulting in the sale of 10,514,000 shares of common stock. Additionally, XTI Aerospace has completed a technical review with the Federal Aviation Administration for its TriFan 600 aircraft, which is part of the company’s certification process. The review focused on the aircraft’s system design and expected flight performance. In a separate development, XTI Aerospace has partnered with design firm IDEO to enhance the design experience of its aircraft, particularly the TriFan 600, and to explore future vertical takeoff and landing solutions. Moreover, the company has settled an arbitration dispute with Chardan Capital Markets without any payments. Lastly, XTI Aerospace commented on the FAA’s release of draft regulations for Beyond Visual Line of Sight drone operations, which could impact future drone capabilities. These developments highlight a period of strategic growth and regulatory progress for XTI Aerospace.
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