ENGLEWOOD, Colo., Jan. 10, 2025 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA), (“XTI” or the “Firm”), a pioneer in superior plane design, immediately introduced the closing of its beforehand introduced best-efforts providing of 1,454,546 shares of widespread inventory, priced at-the-market below Nasdaq guidelines at an providing worth of $13.75 per share, on a publish 1-for-250 reverse inventory break up foundation. Gross proceeds from the providing had been roughly $20,000,000, earlier than deducting the position agent’s charges and different providing bills. All of the shares within the providing had been supplied by the Firm.
The Firm intends to make use of the web proceeds from the providing primarily for working capital and normal company functions.
ThinkEquity acted as sole placement agent for the providing.
The securities had been supplied and offered pursuant to the Firm’s at the moment efficient shelf registration assertion on Type S-3 (File No. 333-279901), together with a base prospectus, filed with the U.S. Securities and Trade Fee (the “SEC“) on Might 31, 2024 and declared efficient on June 18, 2024. The providing was made via a prospectus complement and prospectus which have been filed with the SEC and obtainable on the SEC’s web site at www.sec.gov. It is best to learn the relevant prospectus complement and prospectus for extra full details about the Firm and the providing. You might receive these paperwork freed from cost by visiting the SEC web site at www.sec.gov. Alternatively, it’s possible you’ll receive copies by contacting ThinkEquity, 17 State Avenue (NYSE:), forty first Flooring, New York, New York 10004.
This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of those securities in any state or jurisdiction through which such a proposal, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About XTI Aerospace, Inc.
XTI Aerospace (XTIAerospace.com) (NASDAQ: XTIA) is the father or mother firm of XTI Plane Firm, an aviation enterprise primarily based close to Denver, Colorado, at the moment growing the TriFan 600, a fixed-wing enterprise plane designed to have the vertical takeoff and touchdown (VTOL) functionality of a helicopter, speeds of as much as 345 mph and a spread of roughly 700 miles, creating a wholly new class “ the vertical raise crossover airplane (VLCA). Moreover, the Inpixon (NASDAQ:) (inpixon.com) enterprise unit of XTI Aerospace is a frontrunner in real-time location programs (RTLS) know-how with prospects all over the world who use the corporate’s location intelligence options in factories and different industrial amenities to assist optimize operations, improve productiveness, and improve security. For extra details about XTI Aerospace, please go to XTIAerospace.com and HangerXStudios.com (an aviation innovation podcast), and comply with the corporate on LinkedIn, Instagram, X, and YouTube.
Ahead Wanting Statements
This press launch accommodates sure “forward-looking statements” throughout the which means of the US Non-public Securities Litigation Reform Act of 1995, Part 27A of the Securities Act, and Part 21E of the Trade Act. All statements apart from statements of historic reality contained on this press launch, together with with out limitation, statements concerning the merchandise below improvement by XTI, the benefits of XTI’s know-how, and XTI’s prospects, plans and methods are forward-looking statements.A few of these forward-looking statements could be recognized by way of forward-looking phrases, together with “consider,” “proceed,” “may,” “would,” “will,” “estimate,” “anticipate,” “intend,” “plan,” “goal,” “tasks,” or the negatives of those phrases or variations of them or comparable expressions. All forward-looking statements are topic to dangers, uncertainties, and different components which may trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. All forward-looking statements are primarily based upon estimates, forecasts, and assumptions that, whereas thought of affordable by XTI and its administration, are inherently unsure, and lots of components might trigger the precise outcomes to vary materially from present expectations. XTI undertakes no obligation to revise any forward-looking statements to be able to mirror occasions or circumstances that may subsequently come up. Readers are urged to rigorously evaluation and think about the danger components mentioned every now and then in XTI’s filings with the SEC, together with these components mentioned below the caption “Threat Components” in its most up-to-date annual report on Type 10-Okay, filed with the SEC on April 16, 2024, and in subsequent experiences filed with or furnished to the SEC.
Contacts:
Normal inquiries:E mail: contact@xtiaerospace.comWeb: https://xtiaerospace.com/contact
Investor Relations:Crescendo CommunicationsTel: +1 212-671-1020Email: XTIA@crescendo-ir.com
