FORT LAUDERDALE – October 29, 2026 -- XTI Aerospace (Nasdaq: XTIA) has reached a non-binding agreement to restructure about $4.5 million in seller notes that went into default on October 11, 2026, extending maturity to September 30, 2028.
Notes tied to Drone Nerds and Anzu Robotics deals carry 8.5% interest
The notes were issued on November 10, 2025, in connection with the acquisitions of Drone Nerds, LLC and Anzu Robotics, LLC. The $4.5 million figure covers aggregate principal and capitalized interest still outstanding.
Under the non-binding term sheet, the notes will bear interest at 8.5% per annum, effective June 30, 2026, and amortize monthly over 60 months. A balloon payment of all remaining principal and accrued interest falls due on September 30, 2028.
XTI can pay interest in kind for up to 12 months
During the first 12 months the notes are outstanding, XTI may elect to pay interest in kind until the notes are paid in full. The company says the revised terms provide additional financial flexibility as it executes its restructuring strategy.
JPMorgan Chase revolving credit facility talks continue
XTI is also in discussions with JPMorgan Chase Bank, N.A. over its revolving credit facility and describes itself as optimistic about the outcome. The company has not disclosed terms for that facility.
Definitive documentation has not been drafted or executed, and further details will follow once the parties sign it. XTI's forward-looking statements cite risks including substantial doubt about its ability to continue as a going concern, maintaining its Nasdaq listing, and the risk that its lender declines further advances or accelerates outstanding borrowings. They also flag potential conflicts of interest arising from its Interim Chief Executive Officer's economic interest in the holders of the acquisition-related notes.