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XTI Aerospace, Inc. Announces Offering of Common Stock Priced At-the-Market Under Nasdaq Rules
ENGLEWOOD, Colo., Jan. 7, 2025 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA), ("XTI" or the "Company"), a pioneer in advanced aircraft design, today
About this update from Xti Aerospace, Inc.
[{"type":"text","content":"ENGLEWOOD, Colo., Jan. 7, 2025 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA), (\"XTI\" or the \"Company\"), a pioneer in advanced aircraft design, today announced the pricing of a best-efforts offering of 363,636,364 shares of its common stock priced at-the-market under Nasdaq rules. Each share of common stock is being sold at an offering price of $0.055 per share. All of the shares in the offering are being offered by the Company. Total gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $20,000,000. The offering is expected to close on January 10, 2025, subject to satisfaction of customary closing conditions.\n\n \n \n \n \n \n \n\n \nThe Company intends to use the net proceeds from the offering primarily for general working capital and general corporate purposes.\nThinkEquity is acting as sole placement agent for the offering.\nThe securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-279901), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the \"SEC\") on May 31, 2024 and declared effective on June 18, 2024. The offering will be made only by means of a written prospectus. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.\nThis 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 in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout XTI Aerospace, Inc.\nXTI Aerospace (XTIAerospace.com) (NASDAQ: XTIA) is the parent company of XTI Aircraft Company, an aviation business based near Denver, Colorado, currently developing the TriFan 600, a fixed-wing business aircraft designed to have the vertical takeoff and landing (VTOL) capability of a helicopter, speeds of up to 345 mph and a range of approximately 700 miles, crea...