Company: XTIA
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001213900-25-033058
Chunk: 11

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-18
Form: POS AM
Chunk 11
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Recent Developments

March 2025 Underwritten Offering and Debt Repayment

On March 28, 2025, we
entered into an underwriting agreement with ThinkEquity, as the representative of the underwriters named therein, relating to a firm
commitment underwritten public offering (the “March Offering”) of 765,200 shares of Common Stock, Pre-funded Warrants to
purchase up to 2,176,000 shares of Common Stock, and Common Warrants to purchase up to 2,941,200 shares of Common Stock. The
combined public offering price for each share of Common Stock, together with one Common Warrant, was $1.36. The combined public
offering price for each Pre-funded Warrant, together with one Common Warrant, was $1.359. Each share of Common Stock, or a
Pre-funded Warrant in lieu thereof, was sold together with one Common Warrant. The March Offering was made pursuant to the Original
Registration Statement and the March Prospectus. The March Offering closed on March 31, 2025. We received net proceeds of
approximately $3.3 million from the March Offering after deducting underwriting discounts and commissions and other expenses payable
by us. We used approximately $2.7 million of the net proceeds from the March Offering to repay in full all amounts outstanding,
including a 115% prepayment penalty, in respect of two secured promissory notes issued by the Company to Streeterville Capital, LLC
on May 1, 2024 and May 24, 2024.

The Pre-funded Warrants were immediately exercisable upon issuance,
have an exercise price of $0.001 per share and may be exercised at any time until all of the Pre-funded Warrants are exercised in full.
The Common Warrants were immediately exercisable upon issuance, have an exercise price of $1.36 per share, and expire on the fifth anniversary
of the date of issuance. As of April 15, 2025, 876,000 Pre-funded Warrants remained outstanding and unexercised.

As part of its compensation
for serving as representative in connection with the March Offering, we issued ThinkEquity and its designees Representative Warrants to
purchase up to 147,060 shares of Common Stock. The Representative Warrants were immediately exercisable upon issuance, have an exercise
price of $1.70 per share and expire on the five-year anniversary of the commencement