Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 77

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 77
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 reduced costs. By having real-time visibility into operations, industrial organizations can make informed, data-driven decisions,
minimize downtime, and ensure compliance with industry regulations.

We
experienced a net loss from operations of approximately $37.0 million and $7.6 million for the years ended December 31, 2024
and 2023, respectively. We cannot assure that we will ever earn revenues sufficient to support our operations, or that we will ever be
profitable. In order to continue our operations, we have supplemented the revenues we earned with proceeds from the sale of our equity
and proceeds from loans.

Recent
Events

March 2025 Underwritten Offering and Debt
Repayment

On March 28, 2025, we entered into an underwriting agreement with ThinkEquity
LLC (“ThinkEquity”), as the representative of the underwriters named therein, relating to a firm commitment underwritten public
offering (the “March Offering”) of 765,200 shares of common stock, pre-funded warrants (the “Pre-funded Warrants”)
to purchase up to 2,176,000 shares of common stock, and common warrants (the “Common Warrants”) to purchase up to 2,941,200
shares of common stock. The combined public offering price for each share of common stock, together with one Common Warrant, was $1.36.
The combined public offering price for each Pre-funded Warrant, together with one Common Warrant, was $1.359. Each share of common stock,
or a Pre-funded Warrant in lieu thereof, was sold together with one Common Warrant. The March Offering was made pursuant to our registration
statement on Form S-3 (File No 333-279901), filed with the SEC on May 31, 2024, as amended on June 14, 2024 and declared effective on
June 18, 2024 (the “Current Shelf Registration Statement”), the base prospectus included therein, a preliminary prospectus
supplement dated March 27, 2025 and a final prospectus supplement dated March 28, 2025.

The March Offering closed
on March 31, 2025. We received net proceeds of approximately $3.3 million from the March Offering after deducting the underwriting discounts
and commissions and other expenses payable by us. We used approximately $2.7 million of the net proceeds from the March Offering to repay
in full all amounts