Connect with us

Technology

XTI Aerospace Announces Pricing of Public Offering

Published

on

ENGLEWOOD, Colo., March 28, 2025 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA), (“XTI” or the “Company”), a pioneer in advanced aircraft design, today announced the pricing of an underwritten public offering of 2,941,200 shares of its common stock (or pre-funded warrants (“Pre-Funded Warrants”) in lieu thereof) and warrants to purchase up to 2,941,200 shares of common stock at a combined public offering price of $1.36 per share (inclusive of the Pre-Funded Warrant exercise price) and associated warrant. The warrants will have an exercise price of $1.36 per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. All of the shares (or Pre-Funded Warrants) and warrants in the offering are being offered by the Company. Total gross proceeds from the offering, before deducting the underwriting discount and other offering expenses, are expected to be approximately $4 million. The offering is expected to close on March 31, 2025, subject to satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering primarily for general working capital and general corporate purposes, and the full repayment of the Company’s outstanding secured promissory notes.

ThinkEquity is acting as the sole book-running manager for the offering.

The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-279901), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 31, 2024, as amended on June 14, 2024, and declared effective on June 18, 2024. The offering will be made only by means of a written prospectus. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About XTI Aerospace, Inc.

XTI Aerospace (XTIAerospace.com) (Nasdaq: XTIA) is the parent company of XTI Aircraft Company, an aviation business based near Denver, Colorado, currently developing the TriFan 600, a fixed-wing business aircraft designed to have the vertical takeoff and landing (VTOL) capability of a helicopter, speeds of up to 345 mph and a range of approximately 700 miles, creating an entirely new category – the vertical lift crossover airplane (VLCA). Additionally, the Inpixon (inpixon.com) business unit of XTI Aerospace is a leader in real-time location systems (RTLS) technology with customers around the world who use the Company’s location intelligence solutions in factories and other industrial facilities to help optimize operations, increase productivity, and enhance safety. For more information about XTI Aerospace, please visit XTIAerospace.com and HangerXStudios.com (an aviation innovation podcast), and follow the Company on LinkedInInstagramX, and YouTube.

Forward Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act. All statements other than statements of historical fact contained in this press release, including without limitation, statements regarding the timing and completion of the offering and XTI’s anticipated use of net proceeds from the offering are forward-looking statements.

Some of these forward-looking statements can be identified by the use of forward-looking words, including “believe,” “continue,” “could,” “would,” “will,” “estimate,” “expect,” “intend,” “plan,” “target,” “projects,” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts, and assumptions that, while considered reasonable by XTI and its management, are inherently uncertain, and many factors may cause the actual results to differ materially from current expectations. XTI undertakes no obligation to revise any forward-looking statements in order to reflect events or circumstances that might subsequently arise. Readers are urged to carefully review and consider the risk factors discussed from time to time in XTI’s filings with the SEC, including those factors discussed under the caption “Risk Factors” in its most recent annual report on Form 10-K, filed with the SEC on April 16, 2024, and in subsequent reports filed with or furnished to the SEC.

Contacts:
General inquiries:
Email: contact@xtiaerospace.com
Web: https://xtiaerospace.com/contact

Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: XTIA@crescendo-ir.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/xti-aerospace-announces-pricing-of-public-offering-302414309.html

SOURCE XTI Aerospace, Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

indent and Red Seven Announce Strategic Partnership to Strengthen Creative IP-Works

Published

on

By

This collaboration will leverage Nola’s Creative Writing Platform to enhance webtoon development and drive innovation in IP creation.

TOKYO, April 4, 2025 /PRNewswire/ — indent, Inc., the developer of Nola, a creative Writing platform[*1] that connects over 500,000 writers with more than 30 publishing labels, has entered into a strategic partnership with Red Seven Inc., led by CEO Lee Hyun-seok, a group company of Red Ice Studio, known for producing “Tomb Raider King”.tom

On March 1, 2025, both companies agreed to strengthen the corporate “IP Development Total Package,” leveraging Nola’s extensive database of over 2 million Japanese “gensaku” – original IP-works –  by Providing comprehensive support for businesses, from sourcing and discovering original IP-works to developing them into full-fledged multimedia content, including webtoons, comics, and novels.

Purpose of the Partnership

This alliance aims to contribute to the growth and revitalization of the global webtoon market, with a particular focus on Japan and South Korea. It does so by leveraging Red Seven’s production expertise, which has resulted in numerous high-quality global hit webtoons such as “The Great Mage Who Returned After 4000 Years” and “Tomb Raider King”, along with Nola – Creative Writing Platform, indent’s creative platform that connects writers and companies. 

Background and Vision of the Partnership

With the widespread adoption of digital devices, the webtoon market has firmly established itself in South Korea as a platform optimized for multimedia storytelling. This market is experiencing rapid global expansion, including in Japan, and is projected to reach 3.85 trillion yen by 2028[*2]. However, as the industry grows at an unprecedented pace, ensuring a sustainable production system and maintaining quality remain pressing challenges.

Until now, indent has supported businesses seeking to develop media-mixable IPs originating from novels, manga, and webtoons through its IP Development Total Package, leveraging a database of over 2 million Japanese “gensaku” (original IP-works) created by 500,000 writers. With this new partnership, Red Seven will take the lead in overseeing and providing comprehensive support for the webtoon sector within this package.

By utilizing Red Seven’s specialized expertise in establishing and expanding production systems, this collaboration will drive business growth for participating companies while also helping to build a sustainable ecosystem for the long-term success and innovation of the webtoon industry.

Statements from Company Representatives

Red Seven Inc, CEO,  Lee Hyun-seok

“As of 2024, Japan’s manga industry has reached a historic high, surpassing 700 billion yen. In light of this industry milestone, Red Seven and indent have formed a business alliance to foster meaningful collaboration in the webtoon market.

Amid this period of growth driven by digital innovation, both our companies recognize the critical importance of developing high-quality IP and productions and are committed to ensuring the sustainable development of the webtoon industry.

Our partnership aims to discover talented creators and nurture original works that captivate both Japanese and global audiences. Both companies will work to create an environment where creators can fully realize their potential.

By combining indent’s expertise in operating Nola – Creative Writing Platform with Red Seven’s extensive experience in webtoon production, this collaboration will enable a mutually complementary partnership. Through these efforts, both our companies seek to contribute to the healthy growth of the webtoon industry and deliver valuable content to readers worldwide.”

indent, Inc., CEO Yuki Kamagata

“This alliance is a major step toward creating new value in the rapidly expanding webtoon market by maximizing the strengths of both companies.

With demand for Japanese original works increasing around the world, our company envisions to contribute to the development of the industry as a whole by establishing a consistent support system for the creation of media-mixable IP starting from webtoons through this alliance.

indent, Inc. will combine the expertise and resources of both companies to explore new possibilities for webtoon. The goal is to create an environment where writers using the Nola – Creative Writing Platform can focus more on their craft, while also fostering a dynamic ecosystem where businesses and emerging talent connect, leading to the creation of inspiring content.

What is  “IP Development Total Package”?

Target Audience: Companies aiming to create media-mixable IP, starting from webtoons, novels, and manga.
Package Contents: Comprehensive support is provided, covering everything from identifying and acquiring original works to full-scale production.

Recruitment of Japanese “gensaku” (original IP works)

Example: Utilizing the “Editorial Board” Feature

A corporate-exclusive feature within Nola – Creative Writing Platform Novel, a novel submission site where works written on Nola – Creative Writing Platform can be posted directly. This function allows companies to list the types of works they seek and specify key criteria, enabling them to identify and acquire submissions from writers tailored to their needs.

Example: Japanese “gensaku” (original IP works) identify and acquire Contest

Taking advantage of the fact that more than 60,000 new works are created each month on Nola – Creative Writing Platform, the contest facilitates connections between companies and emerging authors. Companies receive support in designing contest requirements to align with the type of works they seek.

Comprehensive assistance is provided for all aspects of contest operations, including contest page design and development, management, and expanding awareness among writers.

Discovery of Japanese “gensaku” (original IP works)

Red Seven, which has produced multiple global hit webtoons, and Yui Tsutsumi, the outside director of indent, recognized for discovering and editing numerous successful works in the isekai (otherworldly) genre, lead IP discovery efforts. A specialized discovery team with expertise in content selection, along with proprietary systems, is used to identify promising original works.

Co-production of works

In the webtoon sector, support is provided for the adaptation of promising Japanese “gensaku” (original works) into webtoons. This process maximizes Indent’s editorial resources while leveraging Red Seven’s expertise and production know-how.

Please feel free to contact us at the following link.
For inquiries, please contact: https://indent.co.jp/en/contact

(*1) What is “Nola – Creative Writing Platform”?

Nola – Creative Writing Platform is a creative platform operated by indent, Inc., that connects authors and companies, with over 500,000 registered authors. In addition to supporting data synchronization across both PC and mobile devices, the platform offers various tools to facilitate structured storytelling, including plot creation, character management, and setting material organization. Features such as manuscript writing, setting management, and plotting functions have been developed to support authors in their creative endeavors.

Nola – Creative Writing Platform Service HP:
https://nola-novel.com/ 

App Store:
https://apps.apple.com/jp/app/id1468307521

Google Play:
https://play.google.com/store/apps/details?id=com.nola.app&hl=ja&gl=US 

(*2) QYResearch <2023> “Global Webtoon Market Report 2023-2029”.

Red Seven Co.

Company name: Red Seven Co.
Location: Victoria Center 7F, 4-6-10 Yotsuya, Shinjuku-ku, Tokyo
CEO: Lee Hyun-seok
Establishment: January 11, 2019 (Established on September 14, 2020 by reorganizing L7, a limited liability company)
Business: Production, import, export and distribution of comics, etc., and production, import, export and distribution of animation and movies, etc.
Company URL: https://redseven.jp/  

indent, inc. Company Profile

Company name: indent, Inc.
Location: 4F Kanda Misaki-cho Building, 3-6-12 Kanda Misaki-cho, Chiyoda-ku, Tokyo
CEO Yuki Kamagata
Establishment: October 8, 2019
Business: Planning, development, and operation of Internet services
Company URL: https://indent.co.jp/en   

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/indent-and-red-seven-announce-strategic-partnership-to-strengthen-creative-ip-works-302419831.html

SOURCE indent, Inc.

Continue Reading

Technology

Roborock Releases Matter Protocol Update, Leading Smart Home Integration

Published

on

By

SYDNEY, April 4, 2025 /PRNewswire/ — Roborock, the global leader in ultra-intelligent home robotics engineered to simplify daily life, is proud to announce the firmware update that enhances the implementation of the Matter protocol across several of its premium robot vacuum models. This highly anticipated firmware arrives after Roborock’s earlier announcement that pledged pioneering inclusion of the Matter protocol, marking a significant milestone in smart home integration, and allowing users to seamlessly control their Roborock devices within Matter-supported ecosystems for a more unified, safe, and efficient smart home experience.

The Power of Matter: A Game-Changer for Robot Vacuums

The Matter protocol is a universal smart home standard developed by the Connectivity Standards Alliance (CSA), designed to unify devices across different brands and platforms. As an early adopter of Matter, Roborock remains committed to platform interoperability and ensures its robot vacuums can effortlessly, and safely, communicate with other smart home devices – such as voice assistants—regardless of manufacturer. This interoperability has been eagerly awaited in the robot vacuum industry, as it eliminates compatibility barriers, enhances user experience, adds on data security, and simplifies smart home management through a single, cohesive system.

Matter Compatible Devices from Roborock & firmware Update Details

The following Roborock models will receive a firmware update between April 1-10, 2025 (USA time). The upgrade will be a major expansion of the Matter protocol support on Roborock devices that will further enhance the user experience. Users are recommended to wait patiently for the update to arrive, as exact timing will depend on different timezones. The devices receiving Matter functionality in early April are as follows:

Owners of these Matter-compatible devices, including the latest Saros series by Roborock, will enjoy enhanced connectivity with platforms like Apple Home, Google Home, Amazon Alexa, and more, ensuring a smoother and more responsive smart home experience.

Starting today, users can easily control compatible Roborock robot vacuum cleaners with the Home app on iPhone, iPad, Apple Watch, Apple TV, HomePod, or Mac running the latest firmware.

Please note that specific Matter-related functionality may vary not only by Roborock device, but also by ecosystem. As usual, Roborock will keep upgrading its Matter-related firmware on a continuous basis to further enhance user experience as it works with all major platforms that integrate Matter.

For more ecosystem-specific information on how they implement the different versions of the Matter protocol and what options are available to ecosystem users, please refer to the ecosystem’s developer websites or firmware update notes.

Expanding Matter Support to More Roborock Devices

Roborock remains committed to broadening Matter compatibility across its product lineup. The company plans to extend support to the Roborock S8 Max Ultra and Qrevo Slim in the upcoming weeks and months, with more models coming soon, further solidifying its position as a leader in smart home innovation.

Works With Apple Home

Starting today, users can easily control compatible Roborock robot vacuum cleaners with the Home app on iPhone, iPad, Apple Watch, Apple TV, HomePod, or Mac running the latest firmware. After installing the Roborock S8 MaxV Ultra, a Works With Apple Home certified Roborock product, users can control it on the  Home app, and add it to custom automations, like cleaning the living room every day at 2 p.m. Or, ask Siri to “clean the kitchen” hands-free.

The Works with Apple Home badge is a trademark of Apple Inc. Requires an iPhone running iOS 18.4 or later or an iPad running iPadOS 18.4 or later for pairing and local control, or a home hub such as HomePod or Apple TV running compatible firmware for automations, notifications, and remote access.

ENDS

 

About Roborock   

Roborock is a leading smart cleaning brand renowned for its intelligent cleaning solutions. With a steadfast dedication to becoming a global leading smart appliance player, Roborock enriches lives with its innovative line of robotic, cordless, wet/dry vacuum cleaners, and washer-dryers. Rooted in a user-centric approach, our R&D-driven solutions cater to diverse cleaning needs in over 15 million homes across 170+ countries. Headquartered in Beijing and with strategic subsidiaries in key markets, including the United States, Japan, the Netherlands, Poland, Germany, and South Korea, Roborock is dedicated to elevating its market presence worldwide. For more information, visit https://au.roborock.com/.   

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/roborock-releases-matter-protocol-update-leading-smart-home-integration-302420564.html

SOURCE Roborock

Continue Reading

Technology

Omar Habbas Partners with San José Spotlight to Launch Educational Journalism Initiative

Published

on

By

Omar Habbas, founding attorney of Habbas & Associates, has announced his support for a new educational initiative in partnership with San José Spotlight. This program aims to provide hands-on training and mentorship to aspiring journalists, ensuring the future of independent local news in Silicon Valley.

SAN JOSE, Calif., April 3, 2025 /PRNewswire/ — The decline of local journalism is a growing concern, with over 3,200 newspapers shuttered across the U.S. since 2005. This loss has led to increased misinformation, reduced civic engagement, and growing political division. As a longtime advocate for truth and justice, Mr. Habbas recognizes the critical role journalism plays in an informed society.

“Law and journalism are deeply connected—we both fight for truth, accountability, and justice,” said Mr. Habbas. “I am proud to support San José Spotlight in this effort to train the next generation of reporters and uphold the integrity of local news.”

Founded in 2019, San José Spotlight is Silicon Valley’s first nonprofit newsroom, dedicated to independent and investigative journalism. The new initiative will provide students and aspiring reporters, particularly those from underrepresented backgrounds, with mentorship, resources, and real-world experience in the field.

With Mr. Habbas as the program’s first major sponsor, San José Spotlight is also seeking additional funding from philanthropic organizations and individuals who believe in the power of local journalism.

For more information or to support this initiative, visit San José Spotlight.

Media Contact:
Omar Habbas
408-278-0480
Habbas & Associates

View original content to download multimedia:https://www.prnewswire.com/news-releases/omar-habbas-partners-with-san-jose-spotlight-to-launch-educational-journalism-initiative-302420482.html

SOURCE Habbas & Associates

Continue Reading

Trending