ENGLEWOOD, Colo., Jan. 10, 2025 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA), (“XTI” or the “Company”), a pioneer in advanced aircraft design, today announced the closing of its previously announced best-efforts offering of 1,454,546 shares of common stock, priced at-the-market under Nasdaq rules at an offering price of $13.75 per share, on a post 1-for-250 reverse stock split basis. Gross proceeds from the offering were approximately $20,000,000, before deducting the placement agent’s fees and other offering expenses. All the shares in the offering were offered by the Company.
The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.
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