22 Feb 2016 10:07
(UTC)
Finance
XTI Aircraft Company to Create Liquidity for Its Shareholders
XTI Aircraft Company (XTI) today announced that it will establish an over-the-counter secondary market so current and future shareholders will have the ability to buy and sell XTI shares on a public market.
After garnering $20.6 million in non-binding expressions of interest, the excitement around the TriFan 600 and interest by investors in the company's equity crowdfunding campaign is continuing. In response, XTI is extending the period to invest in the company until mid-April 2016. XTI will apply the proceeds of this offering to support development of its revolutionary new TriFan 600 aircraft. This game-changing airplane combines the speed, range and comfort of a business jet with the ability to take off and land like a helicopter.
The ongoing investment opportunity is not only open to those who had signed up and expressed interest in investing in XTI previously, but to all investors around the globe. Shares may be purchased at: www.startengine.com/startup/xti
"We're listening to our shareholders," said XTI's founder and Chairman, David Brody. "As our company continues to grow over the next several years, we want to provide existing investors and our future shareholders with the opportunity to benefit from that growth by being able to buy and sell XTI shares. We've always looked at our Reg A+ offering as a 'mini-IPO', and now we want to take advantage of this special feature allowed under the SEC regulations."
Brody said that XTI has been approached by numerous companies offering to assist in creating a secondary market for XTI shares, which are valued at $1 per share in the offering. The shares owned by everyone who invests in the ongoing equity crowdfunding could be traded in a manner similar to the stock of large companies that is traded on the New York Stock Exchange and other exchanges.
The securities of about 10,000 companies already trade over the counter today. "It's an established system," Brody pointed out, "and is a next logical step." When the company completes this process, it will advise all of its shareholders directly and provide guidance on how they can trade their shares.