09:43 AM EDT, 06/05/2024 (MT Newswires) -- XTI Aerospace ( XTIA ) shares soared nearly 60% in early trading Wednesday after it revealed that airline operator Mesa Air Group ( MESA ) is an investor in the company, with warrants and a minority stake in common stock shares.

The size of Mesa's ownership stake was not disclosed.

XTI also said Wednesday that Mesa Air Group ( MESA ) is the the purchaser of a previously disclosed order for up to 100 TriFan 600 aircraft from XTI unit XTI Aircraft. The company said that if the order is fully exercised, it could represent as much as $1 billion in revenue.

Price: 1.45, Change: +0.53, Percent Change: +57.72