Company: XTIA
Filing Date: 2025-06-20
Form Type: S-1/A
Source: 0001213900-25-055855
Chunk: 74

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-20
Form: S-1/A
Chunk 74
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eration paid by the Company in connection with the exchanges. |

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| 8. | The Company issued 520 shares of common stock (the “Exchange Shares”) to the holder of that certain promissory note of the Company issued on December 30, 2022 (the “December 2022 Note”) at a price of $1,390 per share, which is equal to the Minimum Price as defined in Nasdaq Listing Rule 5635(d) in accordance with the terms and conditions of an exchange agreement, dated December 29, 2023, pursuant to which the Company and the note holder agreed to (i) partition new promissory notes in the form of the December 2022 Note in the original principal amount of $722,800 and then cause the outstanding balance of the December 2022 Note to be reduced by $722,800 and (ii) exchange the partitioned note for the delivery of the Exchange Shares. The offer and sale of the Exchange Shares was not registered under the Securities Act, in reliance on an exemption from registration under Section 3(a)(9) of the Securities Act, in that (a) the Exchange Shares were issued in exchange for a partitioned note which was another outstanding security of the Company; (b) there was no additional consideration of value delivered by the note holder in connection with the exchange and (c) there were no commissions or other remuneration paid by the Company in connection with the exchange. |

| 9. | On May 15, 2023, the Company entered into a warrant purchase agreement with multiple purchasers for the purchase and sale of warrants (as amended on June 20, 2023, the “May 2023 Warrants”) to purchase up to an aggregate of 6,000 shares of common stock at a purchase price per warrant of $250. The May 2023 Warrants had an initial exercise price $6,500, subject to adjustment pursuant to the terms of the May 2023 Warrants with a floor exercise price of $2,500 per share. Each May 2023 Warrant was immediately exercisable upon issuance for one share of common stock and had a term of exercise of one year from the issuance date, unless extended by the Company with the consent of the warrant holder. The May 2023 Warrants and the shares of common stock issuable upon exercise of the May 2023 Warrants were offered pursuant to the exemption from registration provided