Company: XTIA
Filing Date: 2025-01-10
Form Type: 8-K
Source: 0001213900-25-002385
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Company: XTI Aerospace, Inc.
Filing Date: 2025-01-10
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into
a Material Definitive Agreement.

On January 7, 2025, XTI Aerospace,
Inc., a Nevada corporation (the “ Company”), filed a certificate of amendment (the “ Reverse Stock Split Amendment”)
to its Restated Articles of Incorporation, as amended (the “ Articles of Incorporation”), with the Secretary of State of the
State of Nevada to effect a reverse stock split of its outstanding common stock, par value $0.001 per share (the “ Common Stock”),
at a ratio of 1-for-250, effective as of 12:01 a. m., Eastern Time, on January 10, 2025 (the “ Reverse Stock Split”).

On January 7, 2025, the Company
entered into a Placement Agency Agreement (the “ Agreement”) with ThinkEquity LLC (the “ Placement Agent”), pursuant
to which the Company agreed to issue and sell directly to various investors, in a best efforts public offering (the “ Offering”),
an aggregate of 1,454,546 shares of Common Stock on a post-Reverse Stock Split basis (363,636,364 shares of Common Stock on a pre-Reverse
Stock Split basis) (the “ Shares”), at an offering price of $13.75 per Share on a post-Reverse Stock Split basis ($0.055 per
Share on a pre-Reverse Stock Split basis). The Company is expected to receive gross proceeds of approximately $20 million in connection
with the Offering, before deducting placement agent fees and other offering expenses payable by the Company. The Offering is expected
to close on January 10, 2025.

As part of its compensation
for acting as placement agent for the Offering, the Company also agreed to issue to the Placement Agent, warrants (the “ Placement
Agent Warrants”) to purchase 72,727 shares of Common Stock on a post-Reverse Stock Split basis (18,181,818 shares of Common Stock
on a pre-Reverse Stock Split basis) (the “ Placement Agent Warrant Shares”). The Placement Agent Warrants are exercisable commencing
January 10, 2025, expire January 8, 2030 and have an exercise price of $17.1875 per share on a post-Reverse Stock Split basis ($0.06875
per share on a pre-Reverse Stock Split basis).

The Reverse Stock Split is
a condition to the closing of the Offering. Accordingly, the Shares and the