Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 180

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 180
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 of first refusal granted to them by us (the “Maxim ROFR”) pursuant to the terms of
that certain advisory engagement agreement, between us and Maxim, dated May 16, 2023, as amended. Pursuant to the Maxim Waiver, Maxim
agreed, on a one-time basis, not to exercise the Maxim ROFR in connection with the January Offering and was paid a $525,000 cash fee upon
the closing of such offering.

Compliance
with Nasdaq Continued Listing Requirements

February 11, 2025, the Company received a letter from Nasdaq confirming that the Company has regained compliance with the minimum bid
price requirement set forth under Nasdaq Listing Rule 5550(a)(2), and accordingly, the Nasdaq Hearings Panel has determined to continue
the listing of the Company’s common stock on The Nasdaq Stock Market.

ATM
Sales

Subsequent
to December 31, 2024 and through the date of this report, the Company issued an aggregate 169,299 shares of common stock in
connection with the ATM Offering at per share prices between approximately $4.10 and $10.38, resulting in aggregate net
proceeds to the Company of approximately $1.7 million.

F-46

XTI
AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

Share Repurchase Program

On March 18, 2025, the Company issued a press release announcing that the Company’s board of directors authorized a share repurchase
program to acquire up to $5 million of the Company’s common stock. The Company may purchase common stock by way of open market transactions,
through privately negotiated transactions, or by other means including through the use of trading plans intended to qualify under Rule
10b-18 under the Exchange Act, in accordance with applicable securities laws and other restrictions. The timing, total value of stock
repurchases, and aggregate number of shares repurchased will depend upon business, economic and market conditions, corporate and regulatory
requirements, prevailing stock prices, and other considerations. The share repurchase program has an initial term of 12 months, which
may be extended to 18 months. The share repurchase program may be suspended or discontinued at any time and does not obligate the Company
to acquire any amount of common stock.