Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 64

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 the underwriters named therein, relating to a firm commitment
underwritten public offering (the “June Offering”) of 6,231,200 shares of common stock (the “Shares”), pre-funded
warrants (the “Pre-funded Warrants”) to purchase up to 2,911,800 shares of common stock, and common warrants (the “Common
Warrants”) to purchase up to 9,143,000 shares of common stock. The combined public offering price for each Share, together with
one Common Warrant, was $1.75. The combined public offering price for each Pre-funded Warrant, together with one Common Warrant, was $1.749.
Each Share, or a Pre-funded Warrant in lieu thereof, was sold together with one Common Warrant. The Company also granted ThinkEquity a
45-day option to purchase, at the public offering price, less the underwriting discounts and commissions, up to 1,371,000 additional shares
of Common Stock (and/or Pre-funded Warrants in lieu thereof) and/or up to 1,371,000 additional Common Warrants or any combination thereof,
to cover any over-allotments (the “Over-Allotment Option”). ThinkEquity partially exercised the Over-Allotment Option on June
25, 2025 for 1,371,000 additional Common Warrants.

The June Offering closed on
June 26, 2025, resulting in net proceeds to the Company, after deducting commissions and expenses, of approximately $14.7 million. Upon
closing of the June Offering, the Company issued ThinkEquity warrants (the “Representative’s Warrants”) as compensation
to purchase up to 457,150 shares of Common Stock at an exercise price of $2.1875 per share. The Representative’s Warrants were exercisable
immediately upon the date of issuance and expire on the five-year anniversary of the commencement of sales of securities in the June Offering.

During July 2025, the Company
closed multiple exercises of the Over-Allotment Option. The Over-Allotment Option was exercised in full resulting in the issuance of 1,371,000
shares of common stock, at the public offering price of $1.75 per share, for net proceeds of approximately $2.2 million.

The Company also issued ThinkEquity
additional Representative’s Warrants to purchase an aggregate of 68,551 shares of common stock at an exercise price of