Damon Motors completes business combo with Grafiti; direct listing on Nasdaq Nov 18 under DMN with ~$300M equity value

Damon Inc.

Business combination completed; combined company renamed Damon Inc., Damon Motors becomes wholly-owned subsidiary.
Direct listing on Nasdaq Global Market under symbol 'DMN' expected November 18, 2024.
Fully diluted pro-forma equity value approx $300M, implied per-share price ~$12.00.
Jay Giraud continues as CEO; transaction provides access to public capital markets.
Spin-off of Grafiti from XTI Aerospace completed; registration effective Nov 12, distribution Nov 13.

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