XTI Aerospace Enters Material Definitive Agreement

TL;DR

XTI Aero just signed a big deal, creating new financial obligations. Details in the filing.

AI Summary

On May 24, 2024, XTI Aerospace, Inc. entered into a Material Definitive Agreement. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new financial commitment or contract for XTI Aerospace, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new financial risks and obligations that may affect the company's financial health.

Key Players & Entities

• XTI Aerospace, Inc. (company) — Registrant
• May 24, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of incorporation
• 001-36404 (identifier) — SEC File Number

FAQ

Key Financial Figures

• $1,305,000 — te") in the initial principal amount of $1,305,000, which carries an original issue discou
• $290,000 — h carries an original issue discount of $290,000 and $15,000 that the Company agreed to
• $15,000 — original issue discount of $290,000 and $15,000 that the Company agreed to pay to the H
• $1,290,000 — te") in the initial principal amount of $1,290,000, which carries an original issue discou
• $27,400,000 — amount was increased from approximately $27,400,000 to approximately $32,700,000. According
• $32,700,000 — roximately $27,400,000 to approximately $32,700,000. Accordingly, pursuant to the Equity Di
• $0.001 — f the Company's common stock, par value $0.001 per share ("Common Stock"), having an a
• $5,300,000 — e offering price of up to approximately $5,300,000 in Common Stock remaining under the Equ

Filing Documents

• ea0206713-8k_xtiaero.htm (8-K) — 50KB
• ea020671301ex4-1_xtiaero.htm (EX-4.1) — 32KB
• ea020671301ex5-1_xtiaero.htm (EX-5.1) — 12KB
• ea020671301ex10-1_xtiaero.htm (EX-10.1) — 32KB
• ea020671301ex23-2_xtiaero.htm (EX-23.2) — 3KB
• ex5-1_001.jpg (GRAPHIC) — 2KB
• 0001213900-24-047167.txt ( ) — 330KB
• xtia-20240524.xsd (EX-101.SCH) — 3KB
• xtia-20240524_lab.xml (EX-101.LAB) — 33KB
• xtia-20240524_pre.xml (EX-101.PRE) — 22KB
• ea0206713-8k_xtiaero_htm.xml (XML) — 4KB

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth above in Item 1.01 of this Current Report under the caption "Subsequent Note" is incorporated into this Item 2.03 by reference in its entirety. Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 4.1 Promissory Note, dated as of May 24, 2024. 5.1 Opinion of Mitchell Silberberg & Knupp LLP. 10.1 Amendment No. 3 to Equity Distribution Agreement, dated as of May 28, 2024, by and between XTI Aerospace, Inc. and Maxim Group LLC. 23.1 Consent of Mitchell Silberberg & Knupp LLP (included in Exhibit 5.1). 23.2 Consent of Marcum LLP. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. XTI AEROSPACE, INC. Date: May 28, 2024 By: /s/ Scott Pomeroy Name: Scott Pomeroy Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR