Last month, Colorado-based XTI Aircraft Co. (XTI) announced it has extended its TriFan 600 campaign on StartEngine. This was after the company secured $20.6 million in non-binding expressions of interest.
XTI has designed a 6 seater, vertical take-off and landing aircraft that has the potential to provide “unprecedented” air transportation on a personal level beyond anything available today. The TriFan 600 has impressive stats: 400 mph max cruise speed; range of 800 to 1200 miles; max altitude of over 30,000 ft.
Sharing details about the extension, XTI founder and chairman David Brody stated:
“We had received 2,000 expressions of interest totaling around $20 million when the funding window opened in late January. Many of these have been converted into shares and we now plan to close the first round of equity crowd funding in the middle of April.”
Also speaking about XTI’s projects, Brody commented:
“I am now focused on the TriFan 600 configuration. I am passionate about aircraft, science and technology. This is going to be a game-changing aircraft that combines the speed, range and comfort of a business jet with the ability to take-off and land like a helicopter.”
Brody went on to add that in order to increase XTI’s appeal to investors, the company will offer stakeholders the opportunity to trade their shares on the second market as it expands:
“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 initiative will now run until mid-April.
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