Company: XTIA
Filing Date: 2025-06-25
Form Type: 424B4
Source: 0001213900-25-057901
Chunk: 31

Company: XTI Aerospace, Inc.
Filing Date: 2025-06-25
Form: 424B4
Chunk 31
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 have been $5.6 million, or $0.35 per share. This represents an immediate
decrease in pro forma as adjusted net tangible book value of $0.52 per share of common stock to existing stockholders and an immediate
dilution in net tangible book value of $1.40 per share of common stock to investors of the Offering, as illustrated in the following table,
based on shares outstanding as of March 31, 2025.

You should read this table
in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included
in the 2024 Form 10-K and the 1Q 2025 Form 10-Q and the audited consolidated financial statements and related notes and the unaudited
condensed consolidated financial statements and related notes included in the 2024 Form 10-K and the 1Q 2025 Form 10-Q, respectively.

| Offering price per share and accompanying Common Warrant                               |     |   |       |   |     | $ | 1.75 |
| Net tangible book value per share as of March 31, 2025                                 |     | $ |  0.07 |   |     |   |      |
| Increase per share attributable to the pro forma adjustments                           |     | $ |  0.80 |   |     |   |      |
| Pro forma net tangible book value per share as of March 31, 2025                       |     |   |       |   |     | $ | 0.87 |
| Increase (decrease) in net tangible book value per share attributable to new investors |     | $ | (0.52 | ) |     |   |      |
| Pro forma as adjusted net tangible book value per share after this Offering            |     |   |       |   |     | $ | 0.35 |
| Immediate dilution in net tangible book value per share to new investors               |     |   |       |   |     | $ | 1.40 |

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

If the underwriters exercise
their option to purchase additional shares and/or Pre-funded Warrants and/or additional Common Warrants in full, the pro forma as adjusted
net tangible book value per share after giving effect to the Offering would be $0.46 per share. This represents an immediate decrease
in pro forma as adjusted net tangible book value of $0.41 per share to existing stockholders