Investment Expected to Significantly Accelerate Development of Revolutionary TriFan 600 Long-Range Civilian Fixed-Wing VTOL Business Aircraft, if Successfully Consummated

ENGLEWOOD, Colo.July 1, 2024 /PRNewswire/ -- XTI Aerospace, Inc. (NASDAQ: XTIA) ("XTI" or the "Company") today announced that it has entered into an agreement with FC Imperial Limited ("FCIL"), an affiliate of a private global investment consortium, FinExic Concordia Group, ("FCG" or "Investor Consortium"), for a proposed strategic equity investment for shares of convertible preferred stock (the "Investment") of up to $55 million (the "Maximum Amount") at a post-money valuation of $275 million (the "Locked Valuation"), with the successful consummation of the entire transaction process.

Read the full press release on our Investor Relations site.

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