XTI Aerospace announces the closing of a $20 million public offering by Investing.com

ENGLEWOOD, Colo., January 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 tender offer of 1,454,546 common shares, at a market price below the Nasdaq government’s offer price of 13.75 USD per share, based on a 1 for 250 reverse stock split. The gross proceeds from the offering were approx 20,000,000 dollarsbefore deducting placement agent fees and other offering expenses. All shares in the offer were offered by the Company.

The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.

ThinkEquity acted as sole placement agent for the offering.

The securities were offered and sold pursuant to the Company’s then-current shelf registration statement on Form S-3 (File No. 333-279901), including the base prospectus, filed at US Securities and Exchange Commission (“SEC“) included May 31, 2024 and was declared effective from June 18, 2024. The offer was made through a prospectus supplement and a prospectus archived in SEC and available at The SECs website at www.sec.gov. You should read the applicable prospectus supplement and prospectus for more complete information about the Company and the offering. You can get these documents for free if you visit SEC website at www.sec.gov. Alternatively, you can obtain copies by contacting us ThinkEquity, 17 State Street (NYSE:)41st floor, New York, New York 10004.

This press release will not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws. papers of any such state or jurisdiction.

About XTI Aerospace, Inc.

XTI Aerospace (XTIAerospace.com) (NASDAQ: XTIA) is the parent company XTI Aircraft Companyan airline based near Denver, Coloradowhich is currently developing the TriFan 600, a fixed-wing business aircraft designed for vertical take-off and landing (VTOL) like a helicopter, speeds of up to 345 mph and a range of approximately 700 miles, creating an entirely new category of “vertical liftoff crossover aircraft (VLCA). In addition , a business unit of Inpixon (NASDAQ: ) (inpixon.com). XTI Aerospace is a leader in real-time location systems (RTLS) technology with customers worldwide using the company’s location intelligence solutions in factories and other industrial facilities to help optimize operations, increase productivity and improve safety. For more information about XTI Aerospacevisit XTIAerospace.com and HangerXStudios.com (an aerospace innovation podcast) and follow the company on LinkedIn, Instagram, X and YouTube.

Forward-looking statements

This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements other than statements of historical fact contained in this press release, including, without limitation, statements about products that XTI develops, the benefits of XTI’s technology and XTI’s customers, plans and strategies are forward-looking statements.
Some of these forward-looking statements can be identified by the use of forward-looking words, including “believe,” “continue,” “could,” “would,” “will,” “estimate,” “expect,” “intend” ,” “plan,” “goal,” “projects” or negative words of these terms or variations thereof or similar expressions. All forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ significantly different from those expressed or implied by such forward-looking statements.All forward-looking statements are based on estimates, forecasts and assumptions that, although XTI and its management believe to be reasonable, are inherently uncertain, and many factors may cause actual results differ materially from current expectations.XTI undertakes no obligation to revise any forward-looking statements to reflect events or circumstances that may subsequently arise. Readers are urged to carefully review and consider the risk factors discussed from time to time in XTI’s filings with SECincluding those factors discussed under the heading “Risk Factors” in the most recent Annual Report on Form 10-K filed SEC April 16, 2024 and in subsequent reports filed or submitted SEC.

Contacts:

General inquiries:
Email: contact@xtiaerospace.com
Web: https://xtiaerospace.com/contact

Relations with investors:
Crescendo of communication
Phone: +1 212-671-1020
Email: XTIA@crescendo-ir.com