secwatch.observer — SEC 8-K summary
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Issuer:     XTI Aerospace, Inc. (XTIA)
CIK:        0001529113
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001213900-24-016458
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inpixon divests Grafiti LLC (Saves, Shoom, GYG) to CEO for $1M; updates XTI merger pro formas
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- Entered Equity Purchase Agreement on Feb 16, 2024 to sell 100% of Grafiti LLC to Grafiti Group LLC, controlled by CEO Nadir Ali, for minimum $1M in two annual $500k installments.
- Divestiture closed Feb 21, 2024, covering Saves, Shoom, and Game Your Game businesses as required Solutions Divestiture prior to XTI merger.
- Updated pro forma financials for Inpixon-XTI merger reflect 1:100 reverse stock split, debt/liabilities conversion into equity, and proposed XTI equity financing.
- Merger accounted for as reverse acquisition with XTI as accounting acquirer; goodwill and intangibles based on preliminary estimates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529113/000121390024016458/0001213900-24-016458-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529113/000121390024016458/ea0200243-8k425_inpixon.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-016458

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer