50 SKY SHADES - World aviation news

XTI Aircraft Company to file with SEC to increase share price

Download: Printable PDF Date: 13 Mar 2018 03:49 category:
XTI Aircraft Company to file with SEC to increase share price - Finance publisher
Tatjana Obrazcova
Country: United States Aircraft: Airplanes

XTI Aircraft Company (XTI) announced it is preparing to file papers with the U.S. Securities and Exchange Commission to increase the price of its shares from $1.00 to a minimum of $1.50.  The share price will remain at $1.00 for a period of weeks until XTI finishes preparing its audited financials and submits its filing to the SEC.  When the SEC approves the increase, it will be reflected in XTI's online equity crowdfunding program, www.startengine.com/startup/xti, and in XTI's $25 million private placement financing for accredited investors.  

"Up to the time we submit the filing to the SEC," said Robert LaBelle, Chief Executive Officer of XTI, "XTI will continue to sell its shares for $1.00 on StartEngine and for $1.00 to accredited investors.  So right now is likely to be the last chance for people to buy shares in XTI at the lowest price possible."

"We're going to fly our first prototype later this year," LaBelle continued, "we've received 60 orders for the airplane, and we project higher sales and revenues for the company than previously estimated.  All this translates into reduced risk, a higher return for investors, an increase in the company's valuation, and higher stock value.  We're filing with the SEC because of this increased valuation."

"Our offering on the StartEngine platform has provided a rare opportunity for hundreds of unaccredited and accredited investors around the world to own a piece of the future of flight," LaBelle said. "The TriFan 600 vertical takeoff airplane will transform air travel forever. 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.  

Following XTI's exhibits at the Paris Air Show in June, the annual National Business Aviation Association's convention in Las Vegas in October, and its exhibit at the Ft. Lauderdale International Boat Show in November, XTI announced that it had booked 60 orders for the TriFan 600 under the company's pre-sales program.  "The market continues to recognize 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 remains 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.

Loading comments for XTI Aircraft Company to file with SEC to increase share price...


Lufthansa A380 in Munich: Take-off from 25 March 2018

First A380 flights to Los Angeles, Beijing and Hong Kong on the last Sunday in March Flights are now available to book From 25 March 2018, Lufthansa will welcome five A380s to its Munich Hub...

Flying Colours Corp. ramps up production six-fold as doors open at new St. Louis facility.

Flying Colours, the North American MRO, completions and avionics business has officially opened the doors of its new St. Louis, MO., facility. Manufacturing at the new facility, which primarily suppor...

European Aircraft Sales ApS is named as Daher’s Scandinavian sales representative for the TBM aircraft family

Daher announced the appointment of European Aircraft Sales ApS as its sales representative in Scandinavia for the TBM family of very fast single-turboprop aircraft. Based in the heart of Denmark at...

Civil version of Ka-226T helicopter certified for operation under high temperatures

Russian Federal Aviation Agency (Rosaviation) has issued a supplement to the certificate for Ka-226T helicopter that allows the machine operation at high temperatures. The document makes it possible t...