Company: XTIA
Filing Date: 2025-03-07
Form Type: 8-K
Source: 0001213900-25-021740
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Company: XTI Aerospace, Inc.
Filing Date: 2025-03-07
Form: 8-K
Item: Item 3.02
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Item
3.02 Unregistered Sales of Equity Securities.

XTI
Aerospace, Inc. (the “ Company”) issued an aggregate of 180,847 shares of common stock (the “ Exchange Shares”)
to Streeterville Capital, LLC (the “ Note Holder”), the holder of that certain outstanding secured promissory note of the
Company issued on May 1, 2024 (the “ Original Note”), at a price between $2.48 and $3.34 per share, in each case equal to
the Minimum Price as defined in Nasdaq Listing Rule 5635(d) in accordance with the terms and conditions of Exchange Agreements, dated
February 26, 2025 and March 5, 2025, pursuant to which the Company and the Note Holder agreed to (i) partition new secured promissory
notes in the form of the Original Note in the aggregate original principal amount of $500,000.00 and then cause the outstanding balance
of the Original Note to be reduced by an aggregate of $500,000.00; and (ii) exchange the partitioned notes for the delivery of the Exchange
Shares.

The
offer and sale of the Exchange Shares was not registered under the Securities Act of 1933, as amended (the “ Securities Act”),
in reliance on an exemption from registration under Section 3(a)(9) of the Securities Act, in that (a) the Exchange Shares were issued
in exchanges for partitioned notes which are other outstanding securities of the Company; (b) there was no additional consideration of
value delivered by the Note Holder in connection with the exchanges; and (c) there were no commissions or other remuneration paid by
the Company in connection with the exchanges.

As
of March 5, 2025, the Company had 3,722,340 shares of common stock outstanding.

On February 1, 2025, the Company
entered into a public relations and branding agreement with a public relations firm (the “ PR Firm”), pursuant to which the
Company agreed to issue to the PR Firm, as partial compensation for public relations services, 25,000 unregistered shares of common stock
(the “ PR Firm Shares”), subject to the approval of the Company’s board of directors (the “ Board”).

On March 7, 2025, the Company
entered into an investor relations agreement with an investor relations firm (the “ IR Firm”), pursuant to which the Company
agreed to