Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 148

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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 Equity Distribution Agreement  with Maxim that increased the value of stock that could be sold under the Company’s
ATM from $48,000,000 to $83,800,000; (iii) the January 10, 2025 capital raise that used the services of ThinkEquity LLC; and (d) the February
13, 2025 entry into an Exchange Agreement with Streeterville, wherein an outstanding secured promissory note issued on May 1, 2024 (the
“May 2024 Note”) in the principal amount of $250,000.00 held by Streeterville was partitioned into a new secured promissory
note (the “February 2025 Note”) in the same form and amount as the May 2024 Note, with the Company and Streeterville subsequently
agreeing to exchange the February 2025 Note for 59,832 shares of Company common stock with an effective price of $4.21 per share. Aircraft
has not yet responded to the ASOC.

The Company has indicated that Aircraft intends
to defend against the ASOC vigorously. As of March 31, 2025, the Company has accrued $350,000 relating to the Agreement, which is included
in accounts payable on the condensed consolidated balance sheets.

Commitment to Nadir Ali

As previously disclosed, the Company has a commitment
to pay Nadir Ali deferred consulting fees of $1,500,000 by wire transfer of immediately available funds in three equal installments of
$500,000 each on June 30, 2025, September 30, 2025, and December 31, 2025.

36

Note 19 - Net Loss Per Share Attributable to Common Stockholders

The following table presents the calculation of basic and diluted loss
per share attributable to common stockholders (in thousands, except share and per share data):

    For the Three Months Ended March 31,  2025  
    For the Three  Months Ended  March 31,  2024 
  
    Net Loss 
    $(12,872) 
    $(2,602)

    Less: Preferred stock return 
     (29) 
     (61)
  
    Net Loss Attributable to Common Stockholders, Basic and Diluted 
    $(12,901) 
    $(2,663)

    Net Loss Per Share, Basic and Diluted 
    $(3.80) 
    $(124.