XTI Aerospace raises $20 million in public offering of 12.5 million shares.

XTI Aerospace has priced a best-efforts public offering of 12.5 million shares of common stock and warrants to purchase up to 12.5 million shares at a combined price of $1.60 per share. The offering is expected to raise $20 million in gross proceeds before deducting fees and expenses. The common warrants have an exercise price of $2.00 per share and are immediately exercisable for a five-year period.