XTI Aircraft Company (XTI) has announced its will extend financing on its StartEngine Crowdfunding platform, the company said.
Last year the company announced that it might close the crowdfunding campaign by the end of last year. The company then extended the campaign to March 20, 2020, and has now decided to extend it again until it closes the Series B financing, which it expects to take place in the second quarter of 2020. In the meantime, XTI shares will continue to be available for USD 1.50 on StartEngine.
The company also announced last year that it´s planning to enter into arrangements with one or more Alternative Trading Systems or secondary markets for all XTI shareholders to have the opportunity to offer to sell their shares on a secondary market. XTI is following StartEngine and other platforms that have announced plans to establish a secondary market, and XTI intends to offer this service to its shareholders as soon as one is available.
The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles an hour, with a range of up to 1,200 miles. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 30,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.
XTI Aircraft Company is a privately owned aviation business based near Denver, Colorado.