XTI Aerospace Announces Closing of $20 Million Public Offering

Core Points - XTI Aerospace, Inc. has successfully closed a public offering of 12,500,000 shares of common stock and warrants, raising total gross proceeds of $20 million at a public offering price of $1.60 per share [1][2]. Group 1: Offering Details - The offering included pre-funded warrants and common warrants, with the common warrants having an exercise price of $2.00 per share and being immediately exercisable for five years [1]. - The securities were offered under a shelf registration statement filed with the SEC, which became effective on August 12, 2025 [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for working capital and general corporate purposes, including the development of the TriFan 600 airplane [2]. - The company may also consider investing in or acquiring businesses or technologies, although there are no current commitments [2]. Group 3: Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with vertical takeoff and landing capabilities, maximum cruising speeds over 300 mph, and a range of up to 1,000 miles [5]. - The company also has a business unit, Inpixon, that specializes in real-time location systems technology for industrial applications [5].