XTI Aircraft Company (XTI) announced on Thursday it plans to establish an over-the-counter secondary market for current and future shareholders. This new market will give shareholders 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 on StartEngine is continuing. XTI’s founder and chairman, David Brody, stated:
“We’re listening to our shareholders. 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 then revealed 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.
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