XTI Aerospace Announces Closing of Public Offering

Core Points - XTI Aerospace, Inc. has successfully closed an underwritten public offering of 2,941,200 shares of common stock and warrants, raising approximately $4 million in gross proceeds at a public offering price of $1.36 per share [1][2] - The company plans to utilize the net proceeds primarily for general working capital, corporate purposes, and to fully repay outstanding secured promissory notes [2] - ThinkEquity served as the sole book-running manager for the offering, which was conducted under a shelf registration statement filed with the SEC [3] Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with vertical takeoff and landing (VTOL) capabilities, designed to reach speeds of 345 mph and a range of 700 miles, creating a new category known as vertical lift crossover airplane (VLCA) [5] - The company also operates Inpixon, a leader in real-time location systems (RTLS) technology, providing location intelligence solutions to optimize operations in various industrial settings [5]