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ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ:XTIA), a small-cap aerospace company with a market value of $41 million, has priced a public offering of 12.5 million shares of common stock and warrants at $1.60 per share, the company announced Friday.
The offering, expected to raise $20 million in gross proceeds, includes warrants to purchase up to an additional 12.5 million shares at an exercise price of $2.00 per share. These warrants will be immediately exercisable for five years following issuance.
XTI Aerospace plans to use the proceeds for working capital and general corporate purposes, with a focus on developing its TriFan 600 aircraft. The TriFan 600 is designed as a fixed-wing business aircraft with vertical takeoff and landing capabilities, a maximum cruising speed exceeding 300 mph, and a range of up to 1,000 miles.
ThinkEquity is serving as the sole placement agent for the offering, which is expected to close on September 15, 2025, subject to customary closing conditions.
The securities will be offered through a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on August 1, 2025, and declared effective on August 12, 2025.
XTI Aerospace develops aircraft solutions through its subsidiary XTI Aircraft Company, based near Denver. The company also operates Inpixon, a business unit focused on real-time location systems technology for industrial facilities.
This article is based on information contained in a company press release statement.
In other recent news, XTI Aerospace announced its intention to offer shares of common stock and warrants in a public offering. The company plans to use the proceeds for working capital, general corporate purposes, and the development of its TriFan 600 aircraft. Additionally, XTI Aerospace has launched a Founders Club program, providing early ownership opportunities for the TriFan 600, with events planned in Palm Beach, Dallas, and Denver. In leadership changes, Michael A. Tapp has been appointed as the new chief operating officer, bringing extensive experience from his previous roles. The company has also selected Garmin’s G700 TXi avionics system for the TriFan 600 aircraft, enhancing its design as a fixed-wing aircraft with vertical takeoff and landing capabilities. Furthermore, XTI Aerospace’s board of directors has approved an amended Employee Stock Incentive Plan, allowing officers to designate share recipients. These developments reflect XTI Aerospace’s ongoing efforts to advance its aircraft technology and strengthen its organizational structure.
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