Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 179

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 179
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Maturity
analysis under the lease agreement is as follows (in thousands):

    Year ending December 31, 2025 
    $145 
  
    Year ending December 31, 2026 
     118 
  
    Year ending December 31, 2027 
     124 
  
    Year ending December
    31, 2028 
     10 
  
    Total 
    $397 
  
    Less:
    Present value discount 
     (47)
  
    Lease
    liability 
    $350 

Operating
lease liabilities are based on the net present value of the remaining lease payments over the remaining lease term. In determining the
present value of lease payments, the Company used its incremental borrowing rate based on the information available at the date of adoption
of Topic 842. As of December 31, 2024, the weighted average remaining lease term is 2.8 years and the weighted average discount rate
used to determine the operating lease liabilities was 8.6%.

Note 23
- Subsequent Events

January 2025 Registered Direct Offering

On January 7, 2025, we entered into a placement agency agreement with
ThinkEquity LLC (“ThinkEquity”), as placement agent, pursuant to which we agreed to issue and sell directly to various investors,
in a best efforts public offering (the “January Offering”), an aggregate of 1,454,546 shares of common stock at an offering
price of $13.75 per share. The January Offering closed on January 10, 2025, following the effectiveness of the 1-for-250 reverse stock
split of our outstanding common stock on the same date, which was a condition to the closing of the January Offering. We received net
proceeds of approximately $18.3 million from the January Offering. As part of its compensation for acting as placement agent for the January
Offering, we issued ThinkEquity and its designees Placement Agent Warrants to purchase 72,727 shares of common stock, which were immediately
exercisable upon issuance, have an exercise price of $17.1875 per share and expire on the five-year anniversary of the commencement of
sales of the securities issued in the January Offering.

In connection with the
January Offering, on January 9, 2025, we obtained an amended and restated limited waiver (the “Maxim Waiver”) from Maxim Group
LLC (“Maxim”) of their right