Company: XTIA
Filing Date: 2025-03-31
Form Type: 424B5
Source: 0001013762-25-004458
Chunk: 36

Company: XTI Aerospace, Inc.
Filing Date: 2025-03-31
Form: 424B5
Chunk 36
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 September 30, 2024                                   |     |     |        |   |     |   | 5.67 |
| Decrease in pro forma net tangible book value per share attributable to new investors in this offering |     |     |  (2.02 | ) |     |   |      |
| Pro forma as adjusted net tangible book value per share immediately after this offering                |     |     |        |   |     |   | 3.65 |
| Dilution per share to new investors in this offering                                                   |     |     |        |   |     | $ | 2.29 |

The number of shares of common
stock that will be outstanding after this offering is based on 152,036 shares of our common stock outstanding as of September 30, 2024,
and excludes:

| ● | 51,130                                                                                                                                    
 shares of common stock issuable upon the exercise of outstanding stock options at a weighted average exercise price of $468.12 per share; |

| ● | 1,128                                                                                                                                   
 shares of common stock issuable upon the exercise of outstanding warrants at a weighted average exercise price of $20,343.35 per share; |

| ● | 209,481                                                                                                                              
 shares of common stock available for future issuance under our 2018 Employee Stock Incentive Plan and any other additional shares of 
 our common stock that may become available under our 2018 Employee Stock Incentive Plan;                                             |

| ● | 1                                                                                                                                        
 share of common stock issuable upon the conversion of 1 outstanding share of Series 4 Convertible Preferred Stock, at a conversion price 
 of $418,500,000 per share;                                                                                                               |

| ● | 1                                                                                                                                       
 share of common stock issuable upon conversion of 126 outstanding shares of Series 5 Convertible Preferred Stock, at a conversion price 
 of $280,968,750 per share; and                                                                                                          |

To the extent that stock options
or warrants are exercised, new stock options or other equity awards are issued under our equity incentive plan, or we issue additional
common stock in the future, there will be further dilution to investors participating in this offering. In addition, we may choose to
raise additional capital because of market conditions or strategic considerations, even if we believe that we have sufficient funds for
our current or future operating plans. If we raise additional capital through the sale of equity or convertible debt securities, the issuance
of these securities could result in further