Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 196

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 196
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 March 12, 2024, by and between the Company and Ms. Loundermon. 

On March 31, 2025, the Company
paid the Former Management Payments in full.

32

XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

    ● Preferred Stock Redemption. Pursuant to the Settlement Agreement, on the Effective Date, the Company delivered the aggregate amount of approximately $1.3 million (the “Series 9 Redemption Amount”) to Mr. Ali for the redemption of 1,164.12 shares of Series 9 Preferred Stock outstanding as of such date. Following Mr. Ali’s receipt of the Series 9 Redemption Amount, Mr. Ali no longer held any shares of Series 9 Preferred Stock. 

    ●
    Mutual Release. As of the Effective Date, Mr. Ali, on behalf of himself and his former and current affiliated entities, including 3AM, Grafiti LLC and Grafiti Group (collectively, the “Ali Parties”) agreed to release the Company from all claims arising out of any obligations of the Company with respect to the Ali Consulting Agreement, that certain securities purchase agreement, dated as of March 12, 2024 (the “Series 9 Purchase Agreement”), by and between the Company and 3AM, and the portion of the Strategic Transaction Bonus Plan relating to Mr. Ali, from the beginning of time through and including the date on which the Company has delivered all payments due under the Settlement Agreement (the “Completion Date”). As of the Effective Date, the Company agreed to release the Ali Parties from all claims arising out of any obligations of the Ali Parties with respect to the payment of the purchase price as set forth in the Equity Purchase Agreement, the Ali Consulting Agreement, the Series 9 Purchase Agreement and the portion of the Strategic Transaction Bonus Plan relating to Mr. Ali, from the beginning of time through and including the Completion Date.

    ●
    Entire Agreement.
    The Settlement Agreement provides that it supersedes any prior consents or agreements regarding the allocation of financing proceeds
    for the payment of any obligations of the Company described in the Settlement Agreement.

Grafiti Group Divestiture

On February 21, 2024, Legacy Inpixon completed
the disposition of the remaining portion of the Shoom, SAVES, and Game Your Game business lines and assets in accordance with the terms
and conditions