secwatch.observer — SEC 8-K summary
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Issuer:     XTI Aerospace, Inc. (XTIA)
CIK:        0001529113
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001213900-24-038166
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XTI Aerospace raises $1M net via secured note with Streeterville, exchanges warrants and preferred stock
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- Issued $1.305M secured promissory note to Streeterville Capital; net $1M after $290K OID & $15K fees; 10% interest, 12-month maturity.
- Note includes prepayment penalty (115%), 10% monitoring fee after 6 months, mandatory 25% prepayment on equity raises upon default.
- Exchanged 918,690 existing warrants for 643,082 common shares (0.70/share); warrants cancelled.
- Exchanged 750 Series 9 Preferred shares ($787,500 stated value) for 266,047 common shares at $2.96/share; amended Series 9 terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529113/000121390024038166/0001213900-24-038166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529113/000121390024038166/ea0205054-8k_xtiaero.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-038166

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer