XTI Aerospace will be focused on bringing the TriFan 600 to market, having secured over 700 conditional pre-order reservations and indications of interest from a variety of customer types.

The merger could complete by 4Q23, creating a public company developing VTOL aircraft and offering real-time location systems tech. XTI has received over 700 conditional pre-orders valued at around $7bn.

The proposed transaction will create a public company engaged in developing VTOL aircraft and offering real-time location systems. Pre-orders over 700 aircraft could generate revenues of $7.1 bn upon delivery.