Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 28

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 also granted ThinkEquity a 45-day option to purchase, at
the public offering price, less the underwriting discounts and commissions, up to 1,371,000 additional shares of common stock (and/or
Pre-funded Warrants in lieu thereof) and/or up to 1,371,000 additional Common Warrants or any combination thereof, to cover any over-allotments
(the “Over-Allotment Option”). ThinkEquity partially exercised the Over-Allotment Option on June 25, 2025 for 1,371,000 additional
Common Warrants.

18

XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The June Offering closed on June 26, 2025. The net proceeds to the
Company from the sale of the Shares and the Warrants, including the Common Warrants sold in connection with the partial exercise of the
Over-Allotment Option on June 25, 2025, were approximately $14.7 million, after deducting the underwriting discounts and commissions and
other expenses payable by the Company of approximately $1.3 million.

During July 2025, the Company closed multiple partial exercises of
the Over-Allotment Option until the Over-Allotment Option was exercised in full, resulting in the issuance of 1,371,000 shares of common
stock, at the public offering price of $1.75 per share, for net proceeds of approximately $2.2 million, after deducting the underwriting
discounts and commissions and other expenses payable by the Company of approximately $0.2 million.

September 2025 Public Offering

On September 12, 2025, the Company entered into a placement agency
agreement with ThinkEquity, pursuant to which the Company agreed to issue and sell directly to various investors, in a best efforts public
offering (the “September Offering”), 10,575,000 shares of common stock (the “Shares”), pre-funded warrants (the
“Pre-funded Warrants”) to purchase up to 1,925,000 shares of common stock, and common warrants (the “Common Warrants”
and together with the Pre-funded Warrants, the “Warrants”) to purchase up to 12,500,000 shares of common stock. The combined
public offering price for each Share, together with one Common Warrant, was $1