Company: XTIA
Filing Date: 2025-06-12
Form Type: S-1
Source: 0001213900-25-053928
Chunk: 67

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-12
Form: S-1
Chunk 67
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 original principal amount of approximately $0.5 million and then cause the outstanding balance of the March 2020 Note to be reduced by an aggregate of approximately $0.5 million and (ii) exchange the partitioned notes for the delivery of the Exchange Shares. The offer and sale of the Exchange Shares was not registered under 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 were issued in exchanges for partitioned notes which were other outstanding securities of the Company; (b) there was no additional consideration of value delivered by the note holder in connection with the exchanges and (c) there were no commissions or other remuneration paid by the Company in connection with the exchanges. |

| 2. | During the quarter ended September 30, 2022, the Company issued an aggregate of 5 shares of common stock (the “Exchange Shares”) to the holder of the March 2020 Note at prices between $251,750 and $294,500 per share, in each equal to the Minimum Price as defined in Nasdaq Listing Rule 5635(d) in accordance with the terms and conditions of exchange agreements, pursuant to which the Company and the note holder agreed to (i) partition new promissory notes in the form of the March 2020 Note in the aggregate original principal amount of approximately $1.3 million and then cause the outstanding balance of the March 2020 Note to be reduced by an aggregate of approximately $1.3 million and (ii) exchange the partitioned notes for the delivery of the Exchange Shares. The offer and sale of the Exchange Shares was not registered under 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 were issued in exchanges for partitioned notes which were other outstanding securities of the Company; (b) there was no additional consideration of value delivered by the note holder in connection with the exchanges and (c) there were no commissions or other remuneration paid by the Company in connection with the exchanges. |

| 3. | On October 12, 2022, the Company issued 3 shares of common stock in connection with the exercise of the rights to receive shares of common stock granted as part of that certain exchange agreement, dated January 28, 2022, by and between the Company and a holder of certain then outstanding warrants of the Company. The