Company: XTIA
Filing Date: 2025-06-12
Form Type: S-1
Source: 0001213900-25-053928
Chunk: 34

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-12
Form: S-1
Chunk 34
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 tangible book value after this
Offering by $0.20 per share and decrease the dilution to new investors purchasing shares of our common stock in this Offering by $0.20
per share, assuming no change in the assumed public offering price per share and after deducting estimated underwriting discounts and
commissions.

<div align='center'>18</div>

If the underwriters exercise their option to purchase additional shares
and/or Pre-funded Warrants in full, the pro forma as adjusted net tangible book value per share after giving effect to the Offering would
be $2.14 per share. This represents an immediate increase in pro forma as adjusted net tangible book value of $1.37 per share to existing
stockholders and immediate dilution of $2.91 per share to new investors purchasing our common stock in this Offering.

The information discussed
above is illustrative only and will adjust based on the actual public offering price, the actual number of shares of common stock that
we offer in this Offering, and other terms of this Offering determined at the time of pricing. The foregoing discussion and table assume
(i) no issuance of Pre-funded Warrants, which if sold, would reduce the number of shares of common stock that we are offering on a one-for-one
basis, (ii) no exercise by the underwriters of their over-allotment option and (iii) no exercise of the Representative’s Warrants
to be issued in this Offering. In addition, we may choose to raise additional capital due to market conditions or strategic considerations.
To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities
could result in further dilution to our stockholders.

The number of shares of
common stock outstanding set forth in the table above excludes, as of March 31, 2025:

| ● | 50,333 shares of common stock issuable upon the exercise of outstanding stock options, at a weighted average exercise price of $343.59 
 per share;                                                                                                                             |

| ● | 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;                                    |

|