Company: XTIA
Filing Date: 2025-03-31
Form Type: 424B5
Source: 0001013762-25-004458
Chunk: 13

Company: XTI Aerospace, Inc.
Filing Date: 2025-03-31
Form: 424B5
Chunk 13
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 we issued
a press release announcing that our board of directors authorized a share repurchase program to acquire up to $5 million of our common
stock. We may purchase common stock by way of open market transactions, through privately negotiated transactions, or by other means including
through the use of trading plans intended to qualify under Rule 10b-18 under the Exchange Act, in accordance with applicable securities
laws and other restrictions. The timing, total value of stock repurchases, and aggregate number of shares repurchased will depend upon
business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. The
share repurchase program has an initial term of 12 months, which may be extended to 18 months. The share repurchase program may be suspended
or discontinued at any time and does not obligate us to acquire any amount of common stock.

January 2025 Financing

On January 7, 2025, we entered
into a placement agency agreement with ThinkEquity LLC, as placement agent, pursuant to which we agreed to issue and sell directly to
various investors, in a best efforts public offering, an aggregate of 1,454,546 shares of common stock at an offering price of $13.75
per share. The offering closed on January 10, 2025, following the effectiveness of the 1-for-250 reverse stock split of our outstanding
common stock on the same date, which was a condition to the closing of the offering. We received net proceeds of approximately $18.3 million
from the offering. As part of its compensation for acting as placement agent for the offering, we issued ThinkEquity LLC warrants to purchase
72,727 shares of common stock, which were exercisable commencing January 10, 2025, expire January 8, 2030 and have an exercise price of
$17.1875 per share.

In connection with such offering,
on January 9, 2025, we obtained an amended and restated limited waiver (the “Maxim Waiver”) from Maxim Group LLC of their
right of first refusal granted to them by us (the “Maxim ROFR”) pursuant to the terms of that certain advisory engagement
agreement, between us and Maxim, dated May 16, 2023, as amended (the “Maxim Engagement Agreement”). Pursuant to the Maxim
Waiver, Maxim agreed, on a one-time basis, not to exercise the Maxim ROFR in