XTI Aircraft Company Launches Equity Crowdfunding Campaign as Part of Overall Financing Plan to Develop Revolutionary Vertical Takeoff Airplane
DENVER, Aug. 25, 2015 /PRNewswire/ -- A group of business aviation visionaries today invited the world to help shape and own the future of flight.
Starting today, aviation enthusiasts and crowdfunders nationwide are actively participating in the launch of XTI Aircraft Company's (XTI) equity crowdfunding campaign, the first fundraising effort of its kind in aviation history — to develop the TriFan 600 — a six-seat fixed-wing airplane designed to fly as fast, as high, and as far as other business jets, but with the ability to takeoff and land vertically.
XTI is launching the equity crowdfunding campaign under new rules approved by the U.S. Securities and Exchange Commission. It is part of a larger capital financing plan that includes venture capital, private equity and high net worth investors. Interested investors can learn more and lend their support at www.startengine.com/startup/xti.
"We view equity crowdfunding as a creative way to involve everyone as true stakeholders working together to pioneer this all new way to fly," said David Brody, founder and chairman of XTI. "It's a way to turn all of our supporters into potential stockholders by providing the public a once-in-a-lifetime chance to get in early on something truly revolutionary."
In development for over two years, the TriFan 600 is being designed and developed to become the first commercially certified high-speed, long-range vertical takeoff and landing (VTOL) airplane to provide true door-to-door travel. "No traditional jet, helicopter or other aircraft opens the same world of possibilities," said Brody.
After he conceived and designed the TriFan 600, Brody assembled a world-class leadership team to execute the vision. Team members include XTI Vice Chairman Jeffrey Pino, who, as former president and chief executive of Sikorsky Aircraft, kept the world's largest helicopter manufacturer at the forefront of rotorcraft innovation and development; XTI board member Charlie Johnson, former president of Cessna Aircraft Company, a leading manufacturer of light and midsize business jets; and Chief Engineer and board member Dennis Olcott, Ph.D., who previously served as chief engineer for Adam Aircraft and for the PiperJet program.
"This team knows exactly what is required to finance, design, certify and launch a program of this magnitude," Pino said. He added that "our current efforts are focused on raising capital, finalizing diligence on our technical solution, and initial discussions with key vendors that will lead to building a prototype."
ABOUT XTI
XTI Aircraft Company is a privately owned aviation business based in Denver. 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.
For information and updates about XTI Aircraft Company and the TriFan 600, visit www.xtiaircraft.com.
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NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT FILED BY THE COMPANY WITH THE SEC HAS BEEN QUALIFIED BY THE SEC. ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME BEFORE NOTICE OF ACCEPTANCE GIVEN AFTER THE STATE OF QUALIFICATION.
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SOURCE XTI Aircraft Company
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