Company: XTIA
Filing Date: 2025-02-13
Form Type: 8-K
Source: 0001213900-25-013569
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Company: XTI Aerospace, Inc.
Filing Date: 2025-02-13
Form: 8-K
Item: Item 3.02
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Item 3.02 Unregistered Sales of Equity Securities.

On February 13, 2025, XTI Aerospace,
Inc. (the “ Company”) and Streeterville Capital, LLC (the “ Note Holder”), the holder of that certain outstanding
secured promissory note issued on May 1, 2024 (the “ Original Note”), entered into an exchange agreement (the “ Exchange
Agreement”), pursuant to which the Company and the Note Holder agreed to (i) partition a new secured promissory note in the form
of the Original Note (the “ Partitioned Note”) in the original principal amount of $250,000.00 (the “ Exchange Amount”)
and then cause the outstanding balance of the Original Note to be reduced by the Exchange Amount; and (ii) exchange the Partitioned Note
for the delivery of 59,382 shares of the Company’s common stock (the “ Exchange Shares”) at an effective price per Exchange
Share equal to $4.21, which is the Minimum Price as defined in Nasdaq Listing Rule 5635(d) (the “ Exchange”).

The offer and sale of the Exchange
Shares was not registered under the Securities Act of 1933, as amended (the “ Securities Act”), in reliance on an exemption
from registration under Section 3(a)(9) of the Securities Act, in that (a) the Exchange Shares are being issued in exchange for the Partitioned
Note which is another outstanding security of the Company; (b) there is no additional consideration of value being delivered by the Note
Holder in connection with the Exchange; and (c) there are no commissions or other remuneration being paid by the Company in connection
with the Exchange.

As of February 13, 2025, the Company
has 3,535,294 shares of common stock outstanding, which includes the Exchange Shares that will be issued in the Exchange.

Item 8.01 Other Events.