Core Viewpoint - XTI Aerospace has authorized a share repurchase program to buy back up to $5 million of its common stock, reflecting the company's belief in the undervaluation of its shares [1][3]. Group 1: Share Repurchase Program - The share repurchase program allows XTI Aerospace to purchase common stock through various means, including open market transactions and privately negotiated transactions, in compliance with applicable securities laws [2]. - The program has an initial term of twelve months, which may be extended to eighteen months, and can be suspended or discontinued at any time [2]. - As of March 18, 2025, XTI Aerospace had approximately 3.7 million shares of common stock outstanding [3]. Group 2: Company Confidence and Future Potential - The decision to implement the share buyback program is based on the company's strong confidence in its intrinsic value and future potential, as stated by the Chairman and CEO [3]. - The company aims to deliver long-term value to shareholders and believes its progress towards market leadership reinforces confidence in its long-term success [3]. Group 3: Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with vertical takeoff and landing (VTOL) capabilities, designed to reach speeds of up to 345 mph and a range of approximately 700 miles [4]. - The company also has a business unit, Inpixon, which specializes in real-time location systems (RTLS) technology, serving customers globally to optimize operations and enhance safety [4].
XTI Aerospace Announces Share Repurchase Program