XTI Aerospace issues 41.3M shares to convert preferred stock and settle consulting debt

XTI Aerospace, Inc.

Issued 19,961,587 shares at ~$0.0447 each in exchange for cancellation of 850 Series 9 Preferred shares ($892,500 stated value).
Issued 21,345,967 fully vested shares at $0.0476 each to former CEO/consultant Nadir Ali to satisfy $1,875,000 owed under consulting agreement.
Total common shares outstanding as of Dec 5, 2024: 272,724,231; new issuances represent ~15% dilution.
Both issuances are exempt from registration under Sections 3(a)(9) and S-8 respectively.
Stock used as currency to settle obligations, indicating potential cash constraints.

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