other material
confidence high
sentiment neutral
materiality 0.75
Unusual Machines invests $25M in XTI Aerospace via convertible preferred stock
Unusual Machines, Inc.
- $25M investment for 25,000 shares of XTI's Series 10 Convertible Preferred Stock.
- $10.5M advanced to XTI prior to closing; automatically applied to subscription amount.
- Conversion limited by beneficial ownership cap; pre-funded warrants may be issued in lieu.
- XTI to file resale registration statement within 90 days; use best efforts for effectiveness.