ENGLEWOOD, Colo., Jan. 10, 2025 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA), (“XTI” or the “Company”), a pioneer in advanced aircraft design, today announces the closing of its previously announced best efforts offering of 1,454,546 shares of common stock, which priced in the market below The Nasdaq mandated an offer price of $13.75 per share, on a post 1-for-250 reverse stock split basis. The gross proceeds from the offering are approx $20,000,000before deducting placement agent fees and other offering expenses. All parts of the offering are 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 are being offered and sold pursuant to the Company’s currently effective shelf registration statement on Form S-3 (File No. 333-279901), including the base prospectus, filed on US Securities and Exchange Commission (the “DECLARED by SEC“) in May 31, 2024 and declared effective in June 18, 2024. The offering is made through a prospectus supplement and prospectus filed with DECLARED by SEC and available at SECs website of www.sec.gov. You should read the applicable prospectus and prospectus supplement for more complete information about the Company and the offering. You can get these documents free of charge by visiting the DECLARED by SEC website of www.sec.gov. Alternatively, you can obtain copies by contacting ThinkEquity, 17 State Street (NYSE:)41st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be contrary to law prior to registration or qualification under the securities laws of any state or jurisdiction.

About XTI Aerospace, Inc.

XTI Aerospace (XTIAerospace.com) (NASDAQ: XTIA) is the parent company of XTI Aircraft Companyan aviation business based near Denver, Coloradowhich is currently developing the TriFan 600, a fixed-wing business aircraft designed to have the vertical takeoff and landing (VTOL) capabilities of a helicopter, speeds of up to 345 mph and a range of approximately 700 miles, which created a new category “the vertical lift crossover aircraft (VLCA). In addition, Inpixon (NASDAQ:) (inpixon.com) business unit of XTI Aerospace is a technology leader in real-time location systems (RTLS) with customers around the world using the company’s location intelligence solutions in factories and other industrial facilities to help optimize in operations, increase productivity, and improve safety. For more information about XTI Aerospaceplease visit XTIAerospace.com and HangerXStudios.com (an aviation 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 Litigation 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 news release, including without limitation, statements about products developed by XTI, the advantages of XTI’s technology, and its customers , XTI’s plans and strategies are forward-looking statements.
Certain of these forward-looking statements may be identified by the use of forward-looking words, including “believe,” “continue,” “may,” “will,” “will,” ” estimate,” “expect,” “intend,” “plan,” “target,” “project,” or the negatives 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 materially from those expressed or implied by such forward-looking statements. statements. All forward-looking statements are based on estimates, forecasts, and assumptions that, while considered reasonable by XTI and its management, are inherently uncertain, and many factors could cause actual results to differ materially. materially from current expectations. XTI undertakes no obligation to update any forward-looking statements to reflect events or circumstances that may subsequently arise. Readers are encouraged to carefully review and consider the risk factors discussed from time to time in XTI’s filings at DECLARED by SECincluding the factors discussed under the caption “Risk Factors” in the most recent annual report on Form 10-K, filed on DECLARED by SEC on April 16, 2024, and in subsequent reports filed or provided to DECLARED by SEC.

Contacts:

General questions:
Email: [email protected]
Web: https://xtiaerospace.com/contact

Investor Relations:
Crescendo Communication
Tel: +1 212-671-1020
Email: [email protected]