Company: XTIA
Filing Date: 2025-06-20
Form Type: S-1/A
Source: 0001213900-25-055855
Chunk: 33

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-20
Form: S-1/A
Chunk 33
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 by us, our pro forma as adjusted net tangible book value as of March 31, 2025, would have been $22.8 million, or $1.62 per share.
This represents an immediate increase in pro forma as adjusted net tangible book value of $0.75 per share of common stock to existing
stockholders and an immediate dilution in net tangible book value of $1.89 per share of common stock to investors of the Offering, as
illustrated in the following table, based on shares outstanding as of March 31, 2025.

The information below is illustrative only. The dilution caused by
this Offering will change based on the actual public offering price and other terms of this Offering determined at pricing. You should
read this table in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations”
included in the 2024 Form 10-K and the 1Q 2025 Form 10-Q and the audited consolidated financial statements and related notes and the unaudited
condensed consolidated financial statements and related notes included in the 2024 Form 10-K and the 1Q 2025 Form 10-Q, respectively.

| Assumed offering price per share                                                       |     |   |      |     | $ | 3.51 |
| Net tangible book value per share as of March 31, 2025                                 |     | $ | 0.07 |     |   |      |
| Increase per share attributable to the pro forma adjustments                           |     | $ | 0.80 |     |   |      |
| Pro forma net tangible book value per share as of March 31, 2025                       |     |   |      |     | $ | 0.87 |
| Increase (decrease) in net tangible book value per share attributable to new investors |     | $ | 0.75 |     |   |      |
| Pro forma as adjusted net tangible book value per share after this Offering            |     |   |      |     | $ | 1.62 |
| Immediate dilution in net tangible book value per share to new investors               |     |   |      |     | $ | 1.89 |

Each $1.00 increase
(decrease) in the assumed public offering price of $3.51 per share and accompanying Common Warrant would increase (decrease) the pro
forma as adjusted net tangible book value per share after this Offering by $0