XTI AEROSPACE closes partial over-allotment options and raises $18 million in service
XTI Aerospace, Inc. (NASDAQ: XTIA) is currently valued at $28 million, showing a significant 8% return over the past week, but on Monday announced it had concluded partial exercise of excess acquisition options related to common stock, advance funded warrants and common warrants. According to a statement in the press release and filing with the Securities and Exchange Commission, the underwriter exercised an option of 1,219,995 common shares at a public offering price of $1.75 per share. InvestingPro analysis shows that despite the rapid cash burning currently occurring, the company remains in a favorable cash position compared to its obligations.
Following the transaction, XTI Aerospace sold a total of 10,362,995 shares of common stock or a pre-funded warrant, earning a total revenue of approximately $18 million. These numbers are before the deduction of underwriting discounts, fees, and estimated offering fees.
The company also issued additional warrants to the underwriters, allowing them to purchase 61,000 shares of common stock at a strike price of $2.1875 per share. These warrants are subject to adjustments and carry the same terms and conditions issued during the initial closure of the recruitment on June 26, 2025.
XTI Aerospace is incorporated in Nevada and is headquartered in Englewood, Colorado. Its common stock is listed in the Nasdaq Capital Market under the symbol XTIA.
All information is based on a press release statement and the company's filing with the Securities and Exchange Commission.
XTI AEROSPACE closes partial over-allotment options and raises $18 million in service
Xtia
1.70%
XTI Aerospace, Inc. (NASDAQ: XTIA) is currently valued at $28 million, showing a significant 8% return over the past week, but on Monday announced it had concluded partial exercise of excess acquisition options related to common stock, advance funded warrants and common warrants. According to a statement in the press release and filing with the Securities and Exchange Commission, the underwriter exercised an option of 1,219,995 common shares at a public offering price of $1.75 per share. InvestingPro analysis shows that despite the rapid cash burning currently occurring, the company remains in a favorable cash position compared to its obligations.
Following the transaction, XTI Aerospace sold a total of 10,362,995 shares of common stock or a pre-funded warrant, earning a total revenue of approximately $18 million. These numbers are before the deduction of underwriting discounts, fees, and estimated offering fees.
The company also issued additional warrants to the underwriters, allowing them to purchase 61,000 shares of common stock at a strike price of $2.1875 per share. These warrants are subject to adjustments and carry the same terms and conditions issued during the initial closure of the recruitment on June 26, 2025.
XTI Aerospace is incorporated in Nevada and is headquartered in Englewood, Colorado. Its common stock is listed in the Nasdaq Capital Market under the symbol XTIA.
All information is based on a press release statement and the company's filing with the Securities and Exchange Commission.
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In other recent news, XTI Aerospace has made significant advances in developing the Trifan 600 aircraft. The company has announced the completion of a structural technical proficiency meeting with the Federal Aviation Administration (FAA), a key step in the certification process. Additionally, XTI has utilized the Frontier supercomputer for this analysis to complete over 1,500 computational fluid dynamics (CFD) calculations to enhance the aerodynamics of the TRIFAN 600. The FAA also selected a certified branch for FT. Worth, Texas oversees TRIFAN 600 type certification and demonstrates further advances in aircraft development.
In corporate development, XTI Aerospace has appointed Stephen Griessel, former CEO of Paramount Group (NYSE: PGRE), to the Corporate Advisory Committee. Griessel brings a wide range of experience in aerospace and defense, consistent with XTI's innovative ambitions. Additionally, XTI could take part in a technology collaboration with Maglev Aero to explore electric propulsion solutions and integrate Maglev's hyperdrive technology into the aircraft. The partnership includes preliminary orders for up to 100 propulsion systems that are pending achievement of technical milestones. These recent developments reflect XTI's ongoing efforts to advance technology and expand its leadership team.
This article was generated with AI support and reviewed by the editor. See T&C for more information.
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Source: Xtia
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