Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 184

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 184
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the Company to accelerate the development of both unmanned aerial vehicles and VTOL solutions, expand its market presence, and create
new revenue-generating opportunities across multiple industries. We will also be opportunistic and may consider other strategic transactions,
which may include, but not be limited to, other alternative investment opportunities, such as minority investments and joint ventures.
If we make any acquisitions in the future, we expect that we may pay for such acquisitions with cash, equity securities and/or debt in
combinations appropriate for each acquisition.

Recent Events

June 2025 Underwritten Offering 

On June 24, 2025, the Company
entered into an underwriting agreement with ThinkEquity, as the representative of the underwriters named therein, relating to a firm commitment
underwritten public offering (the “June Offering”) of 6,231,200 shares of common stock (the “Shares”), pre-funded
warrants (the “Pre-funded Warrants”) to purchase up to 2,911,800 shares of common stock, and common warrants (the “Common
Warrants”) to purchase up to 9,143,000 shares of common stock. The combined public offering price for each Share, together with
one Common Warrant, was $1.75. The combined public offering price for each Pre-funded Warrant, together with one Common Warrant, was $1.749.
Each Share, or a Pre-funded Warrant in lieu thereof, was sold together with one Common Warrant. The Company 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.

The June Offering closed on
June 26, 2025, resulting in net proceeds to the Company, after deducting commissions and expenses, of approximately $14.7 million. Upon
closing of the June Offering, the Company issued ThinkEquity warrants (the “Representative’s Warrants”) as compensation
to purchase up to 457,150 shares of Common Stock at an exercise price of $2.187