Business
XTI Aerospace Secures $20 Million JPMorgan Chase & Co. Asset-Based Lending Facility
XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI Aerospace," "XTI," or the "Company"), an aerospace technology company focused on building and scaling its Drone Nerds, LLC ("Drone Nerds") subsidiary, a drone platform serving enterprise and government customers, announced that certain of its subsidiaries, including Drone Nerds, have entered into an Asset-Based Lending ("ABL") credit facility with JPMorgan Chase & Co. ("JP Morgan"), effective February 11, 2026 (the "credit facility").
About this update from Xti Aerospace, Inc.
[{"type":"text","content":"Facility enhances liquidity, supports working capital efficiency and reinforces disciplined path of sustainable, cash-flow positive growth","length":138,"tagName":"p","attribs":{}},{"type":"text","content":"ENGLEWOOD, Colo., Feb. 17, 2026 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI Aerospace," "XTI," or the "Company"), an aerospace technology company focused on building and scaling its Drone Nerds, LLC ("Drone Nerds") subsidiary, a drone platform serving enterprise and government customers, announced that certain of its subsidiaries, including Drone Nerds, have entered into an Asset-Based Lending ("ABL") credit facility with JPMorgan Chase & Co. ("JP Morgan"), effective February 11, 2026 (the "credit facility").","length":601,"tagName":"p"},{"type":"image","alt":"XTI Aerospace Logo (PRNewsfoto/XTI Aerospace, Inc.)","displaySize":"","headline":null,"caption":"XTI Aerospace Logo (PRNewsfoto/XTI Aerospace, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":240,"url":"https://media.zenfs.com/en/prnewswire.com/2e244aac2df0cb488ddc830f1ac246a9"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/2Rp5GTkCVo6sjQJaqbdytw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQyMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/2e244aac2df0cb488ddc830f1ac246a9","width":400,"height":240}},"href":"https://mma.prnewswire.com/media/2656341/XTI_Aerospace_Vertical_Logo_Black.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The credit facility provides up to $20 million of revolving borrowing capacity, subject to a borrowing base comprised of eligible accounts receivable and inventory, each subject to advance rates and reserves. The ABL will provide Drone Nerds with ample liquidity to fund future growth, working capital and routine dividends to the Company. Proceeds from the ABL will also be used to repay the Company $10.5 million for existing indebtedness incurred by Drone Nerds during the acquisition.","length":488,"tagName":"p"},{"type":"text","content":""Securing this credit facility with JP Morgan is an important milestone in aligning our capital structure with our operating model," said Scott Pomeroy, Chief Executive Officer of XTI. "As the Drone Nerds platform drives continued revenue growth,...