Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 173

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 173
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 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 $1.60. The combined public offering price for each Pre-funded
Warrant, together with one Common Warrant, was $1.599. Each Share, or a Pre-funded Warrant in lieu thereof, was sold together with one
Common Warrant.

The September Offering closed on September 15, 2025. The net proceeds
to the Company from the sale of the Shares and the Warrants were approximately $18.5 million, after deducting the placement agent fees
and other expenses payable by the Company of approximately $1.5 million.

Allocation of Net Proceeds

The aggregate net proceeds from the January Offering, March Offering,
June Offering (including exercises of the Over-Allotment Option during July 2025) and September Offering were approximately $57.1 million.
Based on their relative fair value as of the date of issuance, the Company