XTI CEO with Chinese Counterpart at Signing
TriFan 600 VTOL Aircraft
Company Working on Details with Provincial Authorities to Establish Operations
This is a significant step toward opening a huge market for XTI”
— XTI CEO Robert LaBelle
DENVER, CO, UNITED STATES, September 16, 2019 /EINPresswire.com/ — XTI Aircraft Company (XTI) announced it was invited to and participated in a large Investment Trade Fair in Guizhou Province, China. A draft agreement was signed regarding the formation of a joint venture in China which could provide the means to assemble and support the TriFan 600 aircraft in Guizhou Province, China, and to market and sell the TriFan 600 in a specified geographical area. Terms have not been disclosed.
“This is a significant step toward opening a huge market for XTI” said Robert LaBelle, Chief Executive Officer of XTI. “We’re looking forward to the next steps in the process of hope to close on a final agreement within a couple of months.”
On August 5, 2019, XTI announced that due to anticipated success under its $25 million Series B private placement, the company is likely to close its equity crowdfunding campaign on the StartEngine platform, https://www.startengine.com/xti-aircraft, before the end of 2019.
"Along with this latest development, we recently conducted a series of successful initial hover tests, announced a major collaboration with GE Aviation in July of this year, and we’ve received 81 orders for the airplane so far,” said LaBelle in that announcement. “That represents over a half billion dollars in gross revenues upon delivery.”
The company also announced in August that it is currently 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 their shares for sale on a secondary market. This will create liquidity for investors and allow them to buy and sell shares of XTI, and possibly realize a return before the company gets acquired or goes public.
The shares won’t become tradeable until XTI closes its crowdfunding campaign. XTI will announce the date if and when trading on a secondary trading platform becomes available. “XTI will continue to sell shares for $1.50 on StartEngine until the offering closes,” LaBelle added.
“Our offering on the StartEngine platform has provided and continues to provide a rare opportunity for unaccredited and accredited investors around the world to own a piece of the future of flight,” LaBelle said. “The TriFan 600 vertical takeoff airplane will transform air travel forever.”
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.
“The market continues to recognize the value proposition of our unique and revolutionary airplane and its patented technology,” said LaBelle. “Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and our quieter and cleaner state-of-the-art hybrid-electric propulsion system.”
Shares in XTI may be purchased for $1.50 a share at https://www.startengine.com/xti-aircraft, providing a unique opportunity for the general public to invest in an aerospace company with a game-changing product, a world-class leadership team, and what the company believes presents significant growth potential. Potential investors should read the Offering Circular before investing.
Simultaneously with the equity crowdfunding financing, accredited investors may participate in XTI’s $25 million Series B round. Accredited investors seeking more information should contact Mr. LaBelle at firstname.lastname@example.org (571) 216-1594.
ABOUT XTI AIRCRAFT COMPANY
XTI Aircraft Company is a privately owned aviation business based near Denver, founded in 2012. 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 . To invest, go to https://www.startengine.com/xti-aircraft, or accredited investors may contact Mr. LaBelle at email@example.com (571) 216-1594. For information on reserving a priority position for the TriFan under the Company’s pre-sales program, contact Mr. LaBelle.
Media Contact for XTI Aircraft Company:
Chief Executive Officer
XTI Aircraft Company
Englewood, Colorado 80112
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT FROM:
YOU SHOULD READ THE OFFERING STATEMENT BEFORE MAKING ANY INVESTMENT
Robert J LaBelle
XTI Aircraft Co.
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TriFan 600 – This Changes Everything!
Source: EIN Presswire