Grafiti Holding (Renamed Damon Inc.) Completes Business Combination with Damon Motors

Grafiti Holding Inc., a former subsidiary of XTI Aerospace that was renamed Damon Inc., completed a business combination with Damon Motors, making Damon Motors a wholly‑owned subsidiary of the combined company. The combined company (Damon Inc.) was approved for a Direct Listing on the Nasdaq Global Market under ticker DMN, with a pro‑forma equity value of approximately $300 million; XTI Aerospace received Damon securities and completed a 1‑for‑50 distribution of Damon shares to its record date shareholders.