{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-110351","form_type":"8-K","ticker":"XTIA","cik":"0001529113","company_name":"XTI Aerospace, Inc.","filed_at":"2026-10-16T21:16:04+00:00","discovered_at":"2026-10-16T21:18:01.157157+00:00","generated_at":"2026-10-16T21:18:09.058861+00:00","sec_items":["2.04","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.88,"calibrated_materiality_score":0.88,"confidence":"high","headline":"XTI Aerospace unit defaults on $4.51M drone notes; cross-default hits $20M JPMorgan revolver","bullets":["XTI Drones Holdings missed Sept 30, 2026 installments of $1,380,000 (DN Note) and $120,000 (AR Note); 10-day grace lapsed and default was declared Oct 11, 2026.","DN Note principal $10,976,284.58 and AR Note $954,459.53, both at 7.25% and due Nov 10, 2026; default interest now 9.25% (stated rate plus 2.00%).","Default triggered cross-default under the Feb 11, 2026 JPMorgan credit agreement ($20.0M ABL revolver); ~$8.4M of revolving loans outstanding as of Oct 16, 2026.","Lender may stop lending, block distributions, accelerate debt, charge +2.00% default interest and seize collateral; company says liquidity is insufficient to repay if accelerated.","Sellers agreed to terms of a temporary waiver subject to execution and a restructuring is planned; Q2 2026 10-Q expected to flag substantial doubt about going concern."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-110351","json":"https://secwatch.observer/filing/0001213900-26-110351.json","markdown":"https://secwatch.observer/filing/0001213900-26-110351.md","text":"https://secwatch.observer/filing/0001213900-26-110351.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1529113/000121390026110351/0001213900-26-110351-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1529113/000121390026110351/ea0308915-8k_xtiaero.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-16T21:18:09.058861+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}