XTI Aerospace sets 1-for-250 reverse split, prices $20M offering at $0.055/share

XTI Aerospace, Inc.

Reverse stock split at 1-for-250 effective 12:01 a.m. ET on Jan 10, 2025; no fractional shares, rounded up.
Best-efforts offering of 363,636,364 pre-split shares (1,454,546 post-split) at $0.055/sh; gross proceeds ~$20M.
Placement agent ThinkEquity receives warrant for 72,727 post-split shares at $17.1875/sh; 30-day lock-up for company, 90-day for insiders.
20% of offering gross (~$4M) payable to Series 9 holder for consent, used for bonus plan recipients and potential redemption.
Nasdaq hearing held Jan 9, 2025 to appeal delisting due to bid price below $0.10; decision pending within 30 days.

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