02:44 PM EDT, 06/25/2025 (MT Newswires) -- XTI Aerospace ( XTIA ) shares fell nearly 37% in recent Wednesday trading, a day after the company priced a $16 million underwritten public offering.

The offering consists of 9.1 million shares and 9.1 million warrants to buy shares, with each share and warrant priced at $1.75 per share. Each warrant is immediately exercisable to purchase one share at $2 apiece and will expire five years after issuance, the company said.

The offering is expected to close on Thursday.

XTI said it has granted the underwriters a 45-day option to purchase up to an additional 1.4 million shares and/or warrants to cover over-allotments at the public offering price, less the underwriting discount.

The company said it intends to use the net proceeds for working capital and other general corporate purposes.

Price: 1.77, Change: -1.03, Percent Change: -36.74