XTI Aerospace Announces Reverse Stock Split and Pricing of Offering

XTI Aerospace, Inc., a Nevada corporation, recently filed a certificate of amendment to its Restated Articles of Incorporation to implement a reverse stock split of its common stock at a ratio of 1-for-250, effective as of January 10, 2025. The reverse stock split is part of a series of strategic corporate actions by the company.

Additionally, on January 7, 2025, XTI Aerospace entered into a Placement Agency Agreement with ThinkEquity LLC for a best efforts public offering of an aggregate of 1,454,546 shares of Common Stock. This offering, priced at $13.75 per share, is expected to generate gross proceeds of approximately $20 million. The closing of the Offering is anticipated to take place on January 10, 2025.

As part of this agreement, XTI Aerospace has also agreed to issue warrants to the Placement Agent to purchase additional shares of Common Stock. The Offering and related transactions are in compliance with a registration statement filed with the SEC.

In a related development, pursuant to a written consent, XTI Aerospace obtained approval for the issuance of securities in the Offering from 3AM Investments LLC, a Required Holder of the Company’s Series 9 Preferred Stock, under specified terms.

The Company’s recent actions have been strategized to optimize its financial structure and strengthen its position in the market. The Reverse Stock Split and the Offering are integral parts of XTI Aerospace’s broader corporate strategy aimed at enhancing shareholder value and liquidity.

The Company’s stockholders and investors are closely monitoring these developments as XTI Aerospace navigates through this transformative phase.

The announcement of the offering was made official through a press release issued by the Company on January 7, 2025. The Offering has garnered significant interest and support from various stakeholders and industry analysts.

It is important to note that the content of this press release does not constitute an offer to sell securities and should not be considered a solicitation to purchase securities. Possible sales are subject to regulatory requirements and legal provisions.

Financial analysts and industry experts continue to closely observe XTI Aerospace’s progress as it implements these strategic initiatives. The Company aims to utilize the proceeds from the Offering for general working capital and corporate purposes.

XTI Aerospace is dedicated to driving innovation in advanced aircraft design, as exemplified by its pioneering work on the TriFan 600 business aircraft.

The Company’s shares are listed on the Nasdaq Capital Market under the symbol “XTIA.” The recent developments underline XTI Aerospace’s commitment to strategic growth and value creation for its shareholders.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read XTI Aerospace’s 8K filing here.

XTI Aerospace Company Profile

XTI Aircraft Company manufactures vertical takeoff airplanes. The company provides TriFan 600, which lifts off vertically. XTI Aircraft Company was formerly known as AVX Aircraft Technologies, Inc and changed its name to XTI Aircraft Company in March 2015. The company was incorporated in 2009 and is based in Englewood, Colorado.