Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 601

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 601
---
 Liability 
    $497  
    $—  
    $—  
    $497 
  
    Convertible notes, at
    fair value 
     16,804  
     —  
     —  
     16,804 
  
    Loan
    conversion derivatives 
     333  
     —  
     —  
     333 
  
    Total
    liabilities 
    $17,634  
    $—  
    $—  
    $17,634 

F-37

XTI
AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

The table
below provides a summary of changes in the estimated fair value of the Company’s Level 3 assets and liabilities:

    Notes  
    Warrant  
    Convertible
    notes,  
    Loan conversion 

    Receivable  
    Liability  
    at
    fair value  
    derivatives 
  
    Balance at January 1, 2024 
    $—  
    $497  
    $16,804  
    $333 
  
    Acquired 
     3,264  
     920  
     —  
     — 
  
    Change in fair value 
     —  
     281  
     (12,882) 
     — 
  
    Exchanged / Conversion
    to Equity 
     (968) 
     (1,698) 
     (3,922) 
     (333)
  
    Loss from note conversion
    to equity investment 
     (2,630) 
     —  
     —  
     — 
  
    Accrued interest 
     221  
     —  
     —  
     — 
  
    Debt
    discount recognition 
     113  
     —  
     —  
     — 
  
    Balance
    at December 31, 2024 
    $—  
    $—  
    $—  
    $— 

Note 17-
Foreign Operations

Prior
to the XTI Merger, the Company’s operations were located primarily in the United States. After the X