Company: XTIA
Filing Date: 2025-06-12
Form Type: S-1
Source: 0001213900-25-053928
Chunk: 66

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-12
Form: S-1
Chunk 66
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utors and administrators of such a person.

Article X of our Bylaws, as amended, provides
that every person who was or is a party or is threatened to be made a party to or is involved in any action, suit, or proceeding, whether
civil, criminal, administrative or investigative, by reason of the fact that he or a person of whom he is the legal representative is
or was a director or officer of the Company or is or was serving at the request of the Company or for its benefit as a director or officer
of another corporation, or as its representative in a partnership, joint venture, trust, or other enterprise shall be indemnified and
held harmless to the fullest extent permissible by the Nevada Revised Statutes from time to time against all expenses, liability and loss
(including attorneys’ fees, judgments, fines, and amounts paid or to be paid in settlement) reasonably incurred or suffered by him
in connection therewith, except any expense or payments incurred in connection with any claim or liability established to have arisen
out of his own willful misconduct or gross negligence.

<div align='center'>II-2</div>

Item 15. Recent Sales of Unregistered Securities.

Set forth below is information
regarding all of the securities sold by us during the past three years which were not registered under the Securities Act. Except where
otherwise indicated, all share and per share data in this Item 15 give retroactive effect to the 1-for-100 reverse stock split of our
outstanding common stock effective on March 12, 2024 and the 1-for-250 reverse stock split of our outstanding common stock effective on
January 10, 2025, provided that actual amounts may differ due to the rounding of fractional shares in connection with the reverse stock
splits.

| 1. | During the quarter ended June 30, 2022, the Company issued an aggregate of 2 shares of common stock (the “Exchange Shares”) to the holder of that certain promissory note of the Company issued on March 18, 2020 (the “March 2020 Note”) at prices between $318,750 and $412,500 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