XTI Aerospace Inc., a leader in xVTOL and powered-lift aircraft solutions, announced the closing of a $20 million public offering. The company issued 12,500,000 shares of common stock and warrants to purchase an additional 12,500,000 shares at a combined offering price of $1.60 per share. The warrants are exercisable at $2.00 per share for five years. The gross proceeds from the offering, before expenses, totaled $20 million. ThinkEquity served as the sole placement agent. XTI plans to use the funds for working capital, general corporate purposes, and the development of the TriFan 600 airplane, with potential investments or acquisitions also considered.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XTI Aerospace Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: SF73961) on September 15, 2025, and is solely responsible for the information contained therein.