50 SKY SHADES - World aviation news

XTI Aircraft Company resumes equity crowdfunding campaign

Download: Printable PDF Date: 07 Sep 2017 07:43 categories:
Publisher:
XTI Aircraft Company resumes equity crowdfunding campaign - Finance publisher
Tatjana Obrazcova
Country: United States Aircraft: Airplanes

XTI Aircraft Company (XTI) announced that after a pause during part of August it is once again accepting investments on the StartEngine equity crowdfunding site.  www.startengine.com/startup/xti

"We're continuing our successful equity crowdfunding campaign," said Robert LaBelle, Chief Executive Officer of XTI, "after the US Securities and Exchange Commission signed off on our annual update to the offering statement, as required by all companies making Reg A offerings that last more than a year."

"As a result of the substantial investments in XTI over this past year," LaBelle continued, "we've been able to make great strides in our engineering on the hybrid-electric propulsion system, developing our first flying prototype which we plan to fly in about one year. We've also brought on board strategic partners, including Bye Aerospace and Honeywell Aerospace, and we will launch the program publicly at the annual National Business Aviation Association annual convention and trade show in Las Vegas next month."

"Our offering on the StartEngine platform has provided a rare opportunity for hundreds of unaccredited and accredited investors to own a piece of the future of flight.  The TriFan 600 which will transform air travel forever," said LaBelle.  "We thank all of our investors as well as StartEngine for making this possible."

The TriFan is a major breakthrough in aviation and air travel.  The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter.  It will travel at over 300 miles an hour, with a range of 1,200 miles.  Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb.  It will reach 30,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft. 

On June 19, at the Paris Air Show, XTI announced its first three orders for the TriFan 600 under the company's pre-sales program.  Mr. LaBelle said that the customer is a globally recognized operator who intends to place the airplane into service flying priority passengers and cargo in VIP and Utility missions in multiple challenging environments.  "The market is recognizing the value proposition of our unique and revolutionary airplane and its patented technology," said LaBelle.  "Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and our quieter and cleaner state-of-the-art hybrid-electric propulsion system."

XTI launched a formal stock offering in 2016 under SEC Regulation A+, which is open to all unaccredited and accredited investors around the globe.  Shares in XTI may be purchased at www.startengine.com/startup/xti providing a unique opportunity for the general public to invest in an aerospace company with a game-changing product, a world-class leadership team, and significant growth potential.

Simultaneously with the equity crowdfunding financing, accredited investors may participate in XTI's $20 million Series B round.  Accredited investors seeking more information should contact Mr. LaBelle at rlabelle@xtiaircraft.com (571) 216-1594.



Loading comments for XTI Aircraft Company resumes equity crowdfunding campaign...


Recommended

Zetta Jet Receives Commitment for $8.5 Million Post-Petition Financing from Scout Aviation II, LLC

Zetta Jet, a global leader in private international, business and luxury air travel, announced today that its existing lessor Scout Aviation II, LLC ("Scout Aviation") has committed to provi...

VistaJet partners with Christie's for global tour of The Collection of Peggy and David Rockefeller

the sale will be the most significant philanthropic auction ever presented VistaJet, the first and only global private aviation company, announces today its worldwide sponsorship of the exhibition...

Bombardier Predicts Latin America’s 60- to150-seat aircraft Fleet Will Double by 2036

Bombardier Commercial Aircraft’s Market Forecast 2017-2036 for Latin America predicts that overall traffic is expected to grow 5.1 per cent annually and intra-regional traffic to grow slightly m...

Airbus A350-1000 receives EASA and FAA Type Certification

Aircraft on target to first customer delivery by year end Following an intensive flight test campaign performed in less than a year, the A350-1000 has received Type Certification from the European...