Company: XTIA
Filing Date: 2025-01-10
Form Type: 8-K
Source: 0001213900-25-002385
Chunk: 7

Company: XTI Aerospace, Inc.
Filing Date: 2025-01-10
Form: 8-K
Item: Item 8.01
Chunk 7
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Item 8.01 Other Events.

On January 7, 2025, the Company
issued a press release announcing the pricing of the Offering.

A copy of the press release
is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

At-the-Market (ATM) Program and Series 9 Preferred
Stock Holder’s Consent

As previously disclosed, on
November 17, 2024, the Company entered into a Consent Waiver and Release (the “ November 2024 Consent”) with 3AM and Streeterville
Capital, LLC (“ Streeterville”, and together with 3AM, the “ Series 9 Holders”), each as a Required Holder of Series
9 Preferred Stock. Pursuant to the November 2024 Consent, among other things, the Series
9 Holders authorized the Company to raise up to an additional $5,000,000 (the “ ATM Increase”) under the Company’s “at
the market” offering program pursuant to that certain Equity Distribution Agreement, dated as of July 22, 2022, by and between the
Company and Maxim Group LLC, the Company’s sales agent, as amended from time to time (the “ ATM”) in consideration for
the Company’s agreement to pay 20% of the proceeds it receives from sales under the ATM in connection with the ATM Increase (the
“ Redemption Proceeds”) to the Series 9 Holders to redeem a portion of their Series 9 Preferred Stock, to be distributed as
follows: (i) 75% of the Redemption Proceeds to Streeterville (15% of all proceeds received from sales under the ATM) (“15% Redemption
Amount”), and (ii) 25% of the Redemption Proceeds to 3AM (5% of all proceeds received from sales under the ATM).

On December 23, 2024, the
Company received a consent and waiver (the “ December 2024 Consent”) from the Required Holder of the Series 9 Preferred Stock,
authorizing the Company to raise up to an additional $5,000,000 under the ATM in consideration for the Company’s agreement to allocate
the 15% Redemption Amount to the Bonus Plan Recipients, in lieu of 3AM, as the remaining holder of Series 9 Preferred Stock, following
the date on which Streeterville no longer owns any shares of Series 9 Preferred Stock. As of the date of this Current Report on Form