Company: XTIA
Filing Date: 2025-06-26
Form Type: 8-K
Source: 0001213900-25-058481
Chunk: 1

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-26
Form: 8-K
Item: Item 1.01
Chunk 1
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2025. The net proceeds to the Company from the sale of the Shares, the Pre-funded Warrants and the Common Warrants after deducting
the underwriting discounts and commissions and other estimated offering expenses payable by the Company were approximately $14.4 million.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes, including the development
of the TriFan 600 airplane.

Upon closing of the Offering,
the Company issued the Representative warrants (the “ Representative’s Warrants”) as compensation to purchase up to 457,150
shares of Common Stock (5% of the aggregate number of Shares and shares of common stock issuable upon exercise of the Pre-funded Warrants)
at an exercise price of $2.1875 per share. The Representative’s Warrants are exercisable immediately upon the date of issuance,
and expire on June 26, 2030. The Representative’s Warrants and the shares of Common Stock issuable upon exercise of the Representative’s
Warrants were registered pursuant to the Registration Statement.

The Underwriting Agreement
contains customary representations, warranties and covenants made by the Company. It also provides for customary indemnification by each
of the Company and the Underwriters, severally and not jointly, for losses or damages arising out of or in connection with the Offering,
including for liabilities under the Securities Act of 1933, as amended (the “ Securities Act”), other obligations of the parties
and termination provisions.

The Company agreed and its
executive officers and directors entered into lock-up agreements (each, a “ Lock-up Agreement” and collectively, the “ Lock-up
Agreements”) pursuant to which they agreed that, without the prior written consent of the Representative, not to, directly or indirectly,
offer to sell, sell, pledge or otherwise transfer or dispose of any of shares of (or enter into any transaction or device that is designed
to, or could be expected to, result in the transfer or disposition by any person at any time in the future of) Common Stock, enter into
any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership
of shares of Common Stock, make any demand for or exercise any right or cause to be filed a registration statement, including any amendments
thereto, with respect to the registration of any shares of Common Stock or securities convertible into or exercisable or exchangeable
for shares of Common Stock or any other of the Company’s securities or