ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ: XTIA), a $108 million market cap company specializing in Vertical Takeoff and Landing (VTOL) aircraft, has announced its intention to acquire a 30% equity stake in ReadyMonitor, LLC, an AI-driven autonomous Drone-as-a-Service (DaaS) provider. According to InvestingPro data, XTI maintains a healthy liquidity position with a current ratio of 2.24, suggesting strong capability to finance strategic acquisitions. The deal, expected to close in Q1 2025, includes an option for XTI to purchase the remaining 70% within the following 12 months. While the stock has experienced significant volatility, with a 21% decline over the past week, analysts maintain a bullish outlook with price targets ranging from $10 to $18. InvestingPro subscribers can access 12 additional key insights about XTI's financial health and market position.
ReadyMonitor has been granted a unique waiver from the Federal Aviation Administration (FAA), allowing it to operate small unmanned aircraft beyond the pilot's line of sight. DroneNerds, the largest UAV dealer in the U.S. and a major stakeholder in ReadyMonitor, is backing the transaction and will continue to collaborate with both companies to provide customer access and services.
XTI's CEO, Scott Pomeroy, emphasized that the move is part of the company's strategy to integrate unmanned VTOLs with their TriFan 600 aircraft technology, aiming to expand market presence and create new business opportunities. ReadyMonitor's co-founders, Brandon Torres Declet and Jesse Stepler, highlighted the potential for their AI technology to enhance XTI's VTOL solutions through real-time decision-making and mission optimization without human intervention.
Currently, ReadyMonitor is deploying its Drone-in-a-Box (DIAB) solutions to various large-scale enterprises, offering turnkey services that include remote autonomous operation and monitoring with no capital expenditure for drone equipment required by the clients.
The completion of this transaction is contingent on the execution of definitive agreements and certain shareholder and regulatory approvals. It is anticipated to bolster XTI Aerospace's role in the burgeoning drone segment of the Powered-Lift market and support the advancement of VTOL technology.
ThinkEquity is acting as the M&A Advisor for the transaction. This press release contains forward-looking statements, and readers are cautioned that actual results may vary from those expressed. For comprehensive financial analysis and real-time updates on XTI Aerospace and similar companies, visit InvestingPro, offering exclusive insights, Fair Value calculations, and detailed financial metrics.
This article is based on a press release statement from XTI Aerospace, Inc.
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