08:23 AM EDT, 09/12/2025 (MT Newswires) -- XTI Aerospace ( XTIA ) said Friday it priced a public offering of shares and pre-funded warrants for estimated gross proceeds of $20 million.

The offering, which is priced at $1.60 per share and warrant, consists of 12.5 million shares or pre-funded warrants in lieu thereof, and warrants to purchase up to the same amount of shares.

The warrants will have an exercise price of $2 per share and will be exercisable upon issuance for a period of five years, the electric-powered aircraft startup said.

Net proceeds from the offering, which is expected to close Sept. 15, will be used for working capital and general corporate purposes, including the development of its TriFan 600 airplane.

Shares of the company fell more than 19% in recent premarket activity Friday.

Price: 1.63, Change: -0.40, Percent Change: -19.70