Mesa Air provides additional detail on holdings in XTI Aerospace

Mesa Air Group (MESA) provided additional detail around its holdings in XTI Aerospace (XTIA) which is developing the TriFan 600, a unique, fixed-wing vertical lift crossover airplane that can take off and land like a helicopter and is configurable to transport up to six passengers. XTI Aerospace began publicly trading on the Nasdaq on March 13, 2024, following the closing of the merger between XTI Aircraft Company and Inpixon, a provider of real-time location systems, on March 12, 2024. In connection with the closing of the Merger, Mesa received 283,734 shares of XTI Aerospace common stock upon exercising certain warrants for XTI common stock that were assumed by XTI Aerospace in the Merger. Mesa initially received the XTI Warrants in February 2022 in connection with entering into an Aircraft Purchase Agreement with XTI for 100 TriFan 600 aircraft. Mesa’s obligations under the Aircraft Purchase Agreement are subject to customary conditions for transactions of this nature, including FAA certification of the aircraft and future agreement between the parties on a number of terms and conditions, which may or may not be met. Mesa currently holds warrants to purchase another 189,156 shares of XTI Aerospace common stock, which are subject to certain vesting milestones.