Company: XTIA
Filing Date: 2025-09-15
Form Type: 8-K
Source: 0001213900-25-087390
Chunk: 1

Company: XTI Aerospace, Inc.
Filing Date: 2025-09-15
Form: 8-K
Item: Item 1.01
Chunk 1
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is expected to be approximately $18.1 million. The Company intends to use the net proceeds from the Offering for working capital and other
general corporate purposes, including the development of the TriFan 600 airplane. The Company may also use a portion of the net proceeds
to invest in or acquire businesses or technologies that the Company believes are complementary to its own, although it has no current
commitments or obligations to do so.

As part of its compensation
for acting as placement agent for the Offering, the Company also agreed to issue to the Placement Agent warrants (the “ Placement
Agent Warrants”) to purchase up to 625,000 shares of Common Stock. The Placement Agent Warrants will have an exercise price of $2.00
per share and be exercisable, in whole or in part, immediately upon issuance until the five-year anniversary of the commencement of sales
of the Shares and the Warrants.

A copy of the opinion of Mitchell
Silberberg & Knupp LLP relating to the legality of the issuance and sale of the Shares, the Warrants, the Placement Agent Warrants,
the shares of Common Stock issuable upon exercise of the Warrants and the shares of Common Stock issuable upon exercise of the Placement
Agent Warrants is attached as Exhibit 5.1 hereto.

The Agreement contains customary
representations, warranties and covenants made by the Company. It also provides for customary indemnification by the Company for losses
or damages arising out of or in connection with the Offering, including for liabilities under the Securities Act of 1933, as amended,
other obligations of the parties and termination provisions.

Pursuant to the terms of the
Agreement, the Company agreed to pay the Placement Agent a cash fee equal to 7.0% of the gross proceeds of the Offering and to reimburse
the Placement Agent for certain of its expenses in an aggregate amount up to $175,000.

The Company further agreed
and its executive officers and directors entered into lock-up agreements (each, a “ Lock-up Agreement” and collectively, the
“ Lock-up Agreements”) pursuant to which they agreed not to, without the prior written consent of the Placement Agent, directly or indirectly, offer to sell, sell, pledge or otherwise transfer or dispose of any of shares of (or enter into any transaction
or device that is designed to, or could be expected to, result in the transfer or disposition by any person at any time in the future
of) Common Stock, enter into any swap