Brief: XTI Aircraft Surpasses $10M During Aviation’s First Equity Crowdfunding Initiative

 

XTI 2

Equity crowdfunders from around the world have reserved shares for more than $10 million to support development of XTI Aircraft’s TriFan 600 through crowdfunding platform, StartEngine.

XTI 1The TriFan 600 will be the world’s first commercially certified vertical takeoff airplane. It will have the speed, range and comfort of a business jet and will take off and land like a helicopter. In development for two-and-a-half years, the six-seat aircraft will provide true door-to-door travel.

XTI Vice Chairman Jeff Pino stated:

“The public response has been tremendous so far. We will file with the SEC in the next few months and, once approved, will allow participants to turn expressions of interest into share purchases.”

XTI has been assessing public interest since August 25, 2015, under the terms of Regulation A, or Reg A+, of the JOBS Act. The company is also raising funds through venture capital, private equity and accredited investors while finalizing diligence on its technical solution and continuing discussions with vendors that will lead to building a prototype.

XTI is backed by highly accomplished aviation leaders, including Founder and Chairman David Brody, Pino, the former president and chief executive of Sikorsky Aircraft Corp., Charlie Johnson, the former president of Cessna Aircraft Company, and other accomplished industry veterans.


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