Unusual Machines Inc. has invested $25 million in XTI Aerospace, Inc., a Nevada-based drone company. The investment was made through the purchase of 25,000 shares of XTI's newly designated Series 10 Convertible Preferred Stock as part of a private placement. Under the agreement, XTI will file a registration statement covering the resale of the shares of common stock underlying the Series 10 Preferred Stock. The transaction includes provisions for pre-funded warrants and restrictions related to beneficial ownership limits.
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