XTI Aerospace Reaches Agreement to Restructure $4.5 Million of Promissory Notes
PR Newswire•29/10/2026•07:01 ET
0
Key Highlights
- ➤$4.5 million of Seller Notes remain outstanding after defaulting October 11, 2026
- ➤Non-binding term sheet sets Seller Notes at 8.5% interest, amortized over 60 months
- ➤Balloon payment for all principal and accrued interest is due September 30, 2028
- ➤XTI may elect interest-in-kind payments during the first 12 months
- ➤XTI continues discussions with JPMorgan Chase over its revolving credit facility
XTI Aerospace Reaches Agreement to Restructure $4.5 Million of Promissory Notes PR Newswire
FORT LAUDERDALE, Fla., Oct. 29, 2026 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI Aerospace," "XTI," or the "Company"), an aerospace and advanced technology platform and parent company of Drone Nerds, LLC, ("Drone Nerds"), a leading drone solutions platform serving commercial, enterprise and government customers, today announced that it has reached a non-binding agreement to restructure and amend the terms of certain promissory notes issued on November 10, 2025 in connection with the acquisitions of Drone Nerds, LLC and Anzu Robotics, LLC (the "Seller Notes").
Get started
Create a free account to read the full story.