DENVER, March 26, 2018 /PRNewswire/ -- Updating its announcement of March 12, 2018, XTI Aircraft Company (XTI) announced today that the current offering at $1.00 a share will close on April 30, 2018. The Company anticipates filing an Offering Statement for a new offering in the future, which will include financial statements for the year ending December 31, 2017.
"XTI will continue to sell its shares for $1.00 on StartEngine until the offering closes," said Robert LaBelle, Chief Executive Officer of XTI. "We're going to fly our first prototype later this year, we've received 60 orders for the airplane, and clearly the company's business prospects have changed since we first filed with the SEC."
"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 345 miles an hour, with a range of up to 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 first launched a stock offering in 2016 under SEC Regulation A+, which was updated in 2017 and 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 what the company believes presents significant growth potential.
ABOUT XTI AIRCRAFT COMPANY
XTI Aircraft Company is a privately owned aviation business based near Denver, founded in 2012. XTI is guided by a leadership team with decades of experience, a deep well of expertise, and success bringing new aircraft to market. XTI is founded on a culture of customer-focused problem solving to meet the evolving needs of modern travelers.
Media Contact for XTI Aircraft Company:
Sr. Vice President/Director/Media Relations
Direct: (303) 817-7676
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