secwatch.observer — SEC 8-K summary
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Issuer:     XTI Aerospace, Inc. (XTIA)
CIK:        0001529113
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0001213900-24-106085
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 3.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529113/000121390024106085/0001213900-24-106085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529113/000121390024106085/ea0223827-8k_xtiaero.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-106085

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