Company: XTIA
Filing Date: 2025-11-12
Form Type: 8-K
Source: 0001213900-25-108855
Chunk: 3

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-12
Form: 8-K
Item: Item 3.02
Chunk 3
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 Bylaws; Change in Fiscal Year.

The information contained
in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein to the extent required to be disclosed under this
Item 5.03.

Pursuant to the PIPE Purchase Agreement, the Company filed a certificate
of designation (the “ Certificate of Designation”) on November 10, 2025, with the Secretary of State of the State of Nevada
designating the rights, preferences and limitations of the shares of the Series 10 Preferred Stock. The Series 10 Preferred Stock has
a stated value of $1,000 per share (the “ Stated Value”), and is initially convertible at a conversion price of $1.492 per
share (the “ Conversion Price”), subject to adjustment pursuant to the Certificate of Designation for stock dividends and stock
splits, subsequent rights offerings, pro rata distributions of dividends or the occurrence of a Fundamental Transaction (as defined in
the Certificate of Designation).

On the Shareholder Approval
Date, each outstanding share of Series 10 Preferred Stock will automatically convert into that number of shares of Common Stock determined
by dividing the Stated Value of such share of Series 10 Preferred Stock plus all unpaid accrued and accumulated Preferential Dividends
on such share (whether or not declared) by the Conversion Price. To the extent not converted in connection with a mandatory conversion,
each share of Series 10 Preferred Stock will be convertible, from and after the Shareholder Approval Date, at the option of the holder,
into that number of shares of Common Stock determined in accordance with the formula in the preceding sentence.

Each outstanding share of Series 10 Preferred Stock is entitled to
receive, in preference to shares of Junior Securities (as defined in the Certificate of Designation), cumulative dividends (“ Preferential
Dividends”), payable quarterly in arrears, at an annual rate of 12.0% of the Stated Value (the “ Preferential Dividend Rate”).
Preferential Dividends will be payable, at the option of the Company, either in-kind in shares of Common Stock, through an accrual on
the Stated Value of the Series 10 Preferred Stock or in cash, subject to, with respect to the issuance of shares of Common Stock, the
receipt of Shareholder Approval and the Beneficial Ownership Limitation (defined below). In addition, each holder of Series 10 Preferred
Stock will be entitled to receive dividends equal to, on an