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XTI Aerospace Stock Plummets Amid Public Offering Announcement
XTI Aerospace Stock Plummets Amid Public Offering Announcement
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BTCCSquare news:
XTI Aerospace (XTIA) shares tumbled 23.65% in pre-market trading following the company's pricing of a $20 million public offering at $1.60 per share. The vertical takeoff aircraft manufacturer's stock has now eroded 81.12% year-to-date, with trading volume spiking to 1.7 million shares versus a 90-day average of 1.06 million.
Proceeds will fund working capital and development of the TriFan 600 aircraft, though the dilutive effect of the offering—which includes warrants exercisable at $2—has rattled investors. The stock's 96.47% annual decline reflects mounting skepticism about capital-intensive aerospace ventures in the current risk-off environment.
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