Company: XTIA
Filing Date: 2025-06-20
Form Type: S-1/A
Source: 0001213900-25-055855
Chunk: 32

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-20
Form: S-1/A
Chunk 32
---
| ● | 5,038,115 shares of common stock issuable upon the exercise of outstanding warrants, at a weighted average exercise price of $5.65 
 per share;                                                                                                                         |

| ● | 72,942,798 shares of common stock available for future issuance under our 2018 Employee Stock Incentive Plan and any other additional 
 shares of our common stock that may become available under our 2018 Employee Stock Incentive Plan;                                    |

| ● | 1 share of common stock issuable upon the conversion of 1 outstanding share of Series 4 Convertible Preferred Stock, at a conversion 
 price of $418,500,000 per share; and                                                                                                 |

| ● | 1 share of common stock issuable upon conversion of 126 outstanding shares of Series 5 Convertible Preferred Stock, at a conversion 
 price of $280,968,750 per share.                                                                                                    |

<div align='center'>17

DILUTION</div>

If you invest in our common
stock in this Offering, your investment will be immediately and substantially diluted to the extent of the difference between the public
offering price per share of our common stock and the pro forma net tangible book value per share of our common stock after giving effect
to the Offering.

Our net tangible book value
as of March 31, 2025 was approximately $0.3 million or $0.07 per share. Net tangible book value per share represents our total tangible
assets less total liabilities, divided by the number of shares of our common stock outstanding.

Our pro forma net tangible
book value as of March 31, 2025, was approximately $8.4 million, or $0.87 per share after taking into account the pro forma adjustments
described in “Capitalization.”

Pro forma as adjusted
net tangible book value dilution per share of common stock to new investors represents the difference between the amount per share of
common stock in the Offering and the pro forma as adjusted net tangible book value per share of common stock immediately after completion
of the Offering. After giving further effect to the sale of 4,558,404 shares of common stock and Common Warrants to purchase 4,558,404
shares of common stock in this Offering at an assumed public offering price of $3.51 per share and accompanying Common Warrant (and assuming
no sale of Pre-funded Warrants), and after deducting the estimated underwriting discounts and commissions and estimated offering expenses
payable