Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 27

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
 in net proceeds to
the Company of approximately $18.3 million, after deducting commissions and other expenses of approximately of $1.7 million.

March 2025 Public Offering

On March 28, 2025, the Company entered into an
underwriting agreement with ThinkEquity, as the representative of the underwriters named therein, relating to a firm commitment underwritten
public offering (the “March Offering”) of 765,200 shares of common stock (the “Shares”), pre-funded warrants
(the “Pre-funded Warrants”) to purchase up to 2,176,000 shares of common stock, and common warrants (the “Common Warrants”
and together with the Pre-funded Warrants, the “Warrants”) to purchase up to 2,941,200 shares of common stock. The combined
public offering price for each Share, together with one Common Warrant, was $1.36. The combined public offering price for each Pre-funded
Warrant, together with one Common Warrant, was $1.359. Each Share, or a Pre-funded Warrant in lieu thereof, was sold together with one
Common Warrant.

The March Offering closed on March 31, 2025.
The net proceeds to the Company from the sale of the Shares and the Warrants were approximately $3.4 million, after deducting the underwriting
discounts and commissions and other expenses payable by the Company of approximately $0.6 million.

June 2025 Public Offering

On June 24, 2025, the Company entered into an
underwriting agreement with ThinkEquity, as the representative of 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”
and together with the Pre-funded Warrants, the “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