XTI Aerospace, Inc. announced a private placement of an secured non convertible promissory note for proceeds of $1,305,000 from a new lender, Streeterville Capital, LLC on May 1, 2024. The Note accrues at a interest rate of 10% per annum and is payable on the maturity date or otherwise in accordance with the Note. The Initial Principal Amount includes an original issue discount of $290,000.00 and $15,000.00 that the Company agreed to pay to the Holder to cover the Holder?s legal fees, accounting costs, due diligence, monitoring and other transaction costs.

In exchange for the Note, the Holder paid an aggregate purchase price of $1,000,000.00. The Borrower shall pay to Lender the entire outstanding balance of this Note on or before the date that is 12 months from the date hereof.