Company: XTIA
Filing Date: 2025-06-12
Form Type: S-1
Source: 0001213900-25-053928
Chunk: 11

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-12
Form: S-1
Chunk 11
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 March 31, 2025 by increasing its cash position by approximately $3.9 million while repaying in full the outstanding secured promissory notes held by Streeterville and significantly reducing other liabilities including the accounts payable and obligations either inherited from Legacy Inpixon or triggered by the closing of the XTI Merger on March 12, 2024. In addition, the Company redeemed the remaining outstanding shares of Series 9 Preferred Stock, leaving zero shares of Series 9 Preferred Stock issued and outstanding as of March 31, 2025. The Series 9 Preferred Stock had restricted the Company’s ability to raise capital, as the Company was prohibited from taking certain actions without prior written consent from the holders of the Series 9 Preferred Stock. TriFan 600 Engineering Update Below are some of the key TriFan 600 development milestones that the Company has achieved year to date:

| ● | Optimization of the fuel system design of the airplane which increased the wing fuel volume from approximately 300 gallons to 400 gallons, improving maximum range and mission length. |

| ● | Improving the air intake and exhaust design to enhance performance and efficiency of the airplane’s propulsion system. |

| ● | Completed the downwash / outwash study allowing us to understand the airflows generated by the airplane during vertical takeoff and landing in order to evaluate safety and performance. |

| ● | Launched a prototyping and innovation lab within The HIVE in Grand Forks, North Dakota. This lab is designed to accelerate the development of the TriFan 600, initially focused on advancing the subscale model, code-named “Sparrow,” and progress toward the construction of a more advanced model, “Kestrel,” which will be crucial in enhancing key elements such as flight control systems and aerodynamics. |

| ● | Selected key supplier-partners, including Triumph Gear Systems, Inc.,                                                                  
 for the design, development and manufacture of the drivetrain system for the TriFan 600, with their engagement subject to the parties’ 
 execution of definitive agreements.                                                                                                    |

In addition, the FAA accepted the Company’s type certification application for the TriFan 600 on March 17, 2025. Corporate Information We were originally formed in the State of Nevada in April 1999. We have two direct, wholly-owned operating subsidiaries: XTI Aircraft Company, based in Englewood, Colorado (at our corporate headquarters), and Inpixon GmbH (previously Nanotron Technologies GmbH), based in Berlin, Germany. Intra