XTI Aerospace announces pricing of public offering

XTI Aerospace (XTIA) announced the pricing of an underwritten public offering of 2,941,200 shares of its common stock and warrants to purchase up to 2,941,200 shares of common stock at a combined public offering price of $1.36 per share and associated warrant. The warrants will have an exercise price of $1.36 per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. All of the shares and warrants in the offering are being offered by the company. Total gross proceeds from the offering, before deducting the underwriting discount and other offering expenses, are expected to be approximately $4M. The offering is expected to close on March 31, subject to satisfaction of customary closing conditions. ThinkEquity is acting as the sole book-running manager for the offering.