XTI Aerospace Faces Delisting Concerns

TL;DR

XTIA might get delisted, big trouble for shareholders.

AI Summary

XTI Aerospace, Inc. filed an 8-K on July 12, 2024, reporting a Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard. The company, formerly known as Inpixon, Sysorex Global, and Sysorex Global Holdings Corp., is incorporated in Nevada and based in Englewood, Colorado.

Why It Matters

This filing indicates potential issues with XTI Aerospace's continued listing on an exchange, which could significantly impact its stock value and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's operational viability and stock value.

Key Numbers

• 001-36404 — SEC File Number (Identifies the company's filing with the SEC.)
• 88-0434915 — I.R.S. Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• XTI Aerospace, Inc. (company) — Registrant
• Inpixon (company) — Former Company Name
• Sysorex Global (company) — Former Company Name
• Sysorex Global Holdings Corp. (company) — Former Company Name
• Nevada (jurisdiction) — State of Incorporation
• Englewood, CO (location) — Business Address City and State

FAQ

Key Financial Figures

• $1 — ment to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listi

Filing Documents

• ea020921001-8k_xtiaerospac.htm (8-K) — 25KB
• 0001213900-24-061072.txt ( ) — 195KB
• xtia-20240709.xsd (EX-101.SCH) — 3KB
• xtia-20240709_lab.xml (EX-101.LAB) — 33KB
• xtia-20240709_pre.xml (EX-101.PRE) — 22KB
• ea020921001-8k_xtiaerospac_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 9, 2024, XTI Aerospace, Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock for the last 30 consecutive business days beginning on May 23, 2024, and ending on July 8, 2024, the Company no longer meets the requirement to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided a period of 180 calendar days, or until January 6, 2025, in which to regain compliance. In order to regain compliance with the minimum bid price requirement, the closing bid price of the Company's common stock must be at least $1 per share for a minimum of ten consecutive business days during this 180-day period. In the event that the Company does not regain compliance within this 180-day period, the Company may be eligible to seek an additional compliance period of 180 calendar days if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, and provides written notice to Nasdaq of its intent to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice to the Company that the common stock will be subject to delisting. The letter does not result in the immediate delisting of the Company's common stock from the Nasdaq Capital Market. The Company intends to monitor the closing bid price of the common stock and consider its available options in the ev

View Full Filing

View this 8-K filing on SEC EDGAR