Company: XTIA
Filing Date: 2025-01-10
Form Type: 8-K
Source: 0001213900-25-002385
Chunk: 8

Company: XTI Aerospace, Inc.
Filing Date: 2025-01-10
Form: 8-K
Item: Item 8.01
Chunk 8
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 8-K,
Streeterville no longer owns Series 9 Preferred Stock.

Nasdaq Hearing

On
July 9, 2024, Nasdaq notified the Company that for the last 30 consecutive trading days, the bid price for the Common Stock had closed
below the minimum $1.00 per share requirement for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(a)(2) (the “ Bid
Price Rule”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until January
6, 2025, to regain compliance with the Bid Price Rule.

On November 7, 2024, the Company
received a letter (the “ Low Price Deficiency Letter”) from Nasdaq indicating that the bid price for the Common Stock had closed
below $0.10 per share for the 10-consecutive trading day period ended November 6, 2024 and, accordingly, the Company is subject to the
provisions contemplated under Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “ Low Priced Stock Rule”). As a result, Nasdaq determined
to delist the Common Stock from the Nasdaq Capital Market (the “ Delisting Determination”). In accordance with the Low Price
Deficiency Letter, on November 14, 2024, the Company timely requested a hearing before a Hearings Panel (the “ Panel”) to appeal
the Delisting Determination, which stayed the delisting and suspension of the Common Stock pending the decision of the Panel.

The
hearing was held on January 9, 2025, at which time the Company presented its plans to regain and sustain compliance with the Bid Price
Rule. It is the Company’s understanding that the Panel typically issues its decision within 30 days after the hearing. However,
there can be no assurance that Nasdaq will accept the Company’s plan of compliance or grant the Company any additional time to demonstrate
its ability to regain and sustain compliance with the continued listing requirements over the long term.

Item 9.01 Financial Statements and Exhibits.