Englewood, Colorado – March 31, 2025 — XTI Aerospace, Inc. (Nasdaq: XTIA), (“XTI” or the “Company”), a pioneer in VTOL and powered-lift aircraft solutions, today announced the closing of its underwritten public offering of 2,941,200 shares of common stock (or pre-funded warrants (“Pre-Funded Warrants”) in lieu thereof) and warrants to purchase up to 2,941,200 shares of common stock at a combined public offering price of $1.36 per share (inclusive of the Pre-Funded Warrant exercise price) and associated warrant. The warrants have an exercise price of $1.36 per share and are immediately exercisable upon issuance for a period of five years following the date of issuance. All of the shares (or Pre-Funded Warrants) and warrants in the offering were offered by the Company. Total gross proceeds from the offering, before deducting the underwriting discount and other offering expenses, were approximately $4 million.
The Company intends to use the net proceeds from the offering primarily for general working capital and general corporate purposes, and the full repayment of the Company’s outstanding secured promissory notes.