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XTI Aerospace: Changes in share capital, nominations for management positions and audit update

Update from XTI Aerospace (XTIA) is now available.

XTI Aerospace, Inc. initiated a stock swap, which involves exchanging preferred stock for common stock with a single shareholder, increasing the number of common shares to over 11 million. Following the merger, the company named Scott Pomeroy as CEO and Brooke Turk as CFO, providing significant compensation and potential bonuses. In connection with the corporate restructuring, the company’s prior financial statements are being re-audited due to the SEC’s prohibition of the original auditor, which may impact the reporting schedule and S-3 eligibility.

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