Inpixon receives shareholder approval of proposals to merge with XTI Aircraft

Inpixon announced that it has received shareholder approval of the proposals related to the previously announced merger agreement with XTI Aircraft Company, an aviation company developing the TriFan 600, a fixed-wing, vertical takeoff and landing aircraft. The merger is expected to be completed at or around year end and remains subject to certain closing conditions including Nasdaq approval of an initial listing application of the combined company. The combined company is expected to operate under the name XTI Aerospace and to trade on the Nasdaq Capital market under the symbol “XTIA” if approved for listing. “With the support of our shareholders, we are thrilled to announce the approval of this business combination,” said Nadir Ali, CEO of Inpixon. “This strategic transaction will not only deliver XTI stockholders securities of a publicly traded company but it also ensures that Inpixon shareholders can continue to hold a significant stake in a company that we believe is creating a revolutionary solution for point-to-point air travel. With this combination, we’re looking to capture the vast opportunities in the alternative aircraft market, a sector we believe is ripe with innovation and expansion potential. The TriFan 600 airplane combines the comfort, speed, and range of similar conventional business aircraft with the flexibility, convenience, and pinpoint transportation of a helicopter. The feedback from the market has been overwhelmingly positive as illustrated by the conditional pre-orders2 for more than 700 TriFan 600s, which would equate to potential gross revenues of more than $7 billion3 upon delivery.”