Equity crowdfunders from around the world have reserved shares for more than USD10 million to support development of the TriFan 600.
The 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.
“The public response has been tremendous so far,” said XTI Vice Chairman Jeff Pino. “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.
XTI 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 Aircraft is a privately owned aviation business based in Denver.