XTI Aerospace Inc., a leader in xVTOL and powered-lift aircraft solutions, has announced the pricing of a $16 million public offering. The offering includes 9,143,000 shares of common stock and 9,143,000 warrants to purchase common shares, each priced at $1.75. Each warrant is immediately exercisable at an exercise price of $2.00 per share and has a five-year expiry. The net proceeds are intended for working capital and the development of the TriFan 600 airplane. ThinkEquity is serving as the sole book-running manager for this offering.
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