Techmediabreaks XTI Aerospace Inc. (NASDAQ: XTIA) Closes $4 Million Public Offering To Repay Debt And Fund Operations

(MENAFN- Investor Brand Network) XTI Aerospace (NASDAQ: XTIA) , a developer of vertical takeoff and landing (“VTOL”) aircraft, has closed a public offering of 2,941,200 shares of common stock (or pre-funded warrants) and an equal number of accompanying warrants at a combined offering price of $1.36 per unit. The five-year warrants are immediately exercisable at the same price. Gross proceeds totaled approximately $4 million before expenses, which the company will use for general working capital and to repay outstanding secured promissory notes.

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About XTI Aerospace, Inc.

XTI Aerospace ( XTIAerospace ) (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 345 mph and a range of 700 miles, creating an entirely new category – the vertical lift crossover airplane (VLCA). Additionally, the Inpixon ( inpixon ) business unit of XTI Aerospace is a leader in real-time location systems (RTLS) technology with customers around the world who use the Company's location intelligence solutions in factories and other industrial facilities to help optimize operations, increase productivity, and enhance safety.

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