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News From XTI Aircraft Company

Transmitted by PR Newswire for Journalists on April 16, 2018 12:05 AM HST
 

XTI Aircraft Company Offering Remains Open Until April 30

 
 

Share price at $1.00 until April 30, 2018
Company advances toward first flight of prototype

DENVER, April 16, 2018 /PRNewswire/ — Updating its announcement of March 12, 2018, XTI Aircraft Company (XTI) announced today that the current equity crowdfunding offering on StartEngine (www.startengine.com/startup/xti) at $1.00 a share will close on April 30, 2018.  The Company anticipates filing an Offering Statement for a new offering on StartEngine in the future for equity crowdfunding investments.

The company further stated today it has raised additional funds that will be applied to the remaining development costs for the 65% scale prototype of the TriFan 600 vertical takeoff airplane that it plans to fly later this year.

“Our prototype program is on budget and on schedule to fly the aircraft in 2018,” said Robert LaBelle, Chief Executive Officer of XTI.  “We will validate the aerodynamics of the TriFan and test transition to and from vertical flight.” 

“Over the past 12 months,” LaBelle continued, “we’ve solidified our relationship with Honeywell Aerospace, received our main utility patent, exhibited at four trade shows, wrote orders for 60 airplanes that represent $390 million in gross revenues, and raised the funds needed to complete our Proof of Concept prototype.”

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. 

Following XTI’s exhibits at the Paris Air Show in June, the annual National Business Aviation Association’s convention in Las Vegas in October, and its exhibit at the Ft. Lauderdale International Boat Show in November, XTI announced over 60 orders for the TriFan 600 under the company’s pre-sales program.  “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.”

XTI launched a formal stock offering in 2016 under SEC Regulation A+, which remains open to all unaccredited and accredited investors around the globe.  Shares in XTI may be purchased at www.startengine.com/startup/xti 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 significant growth potential.  

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 rlabelle@xtiaircraft.com (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 www.startengine.com/startup/xti, or accredited investors may contact Mr. LaBelle at rlabelle@xtiaircraft.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:
Diane Simard
Sr. Vice President/Director/Media Relations
Bye Aerospace
DSimard@ByeAerospace.com
Direct:  (303) 817-7676

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: 
https://www.sec.gov/Archives/edgar/data/1638850/000114420417044842/v473949_partiiandiii.htm

YOU SHOULD READ THE OFFERING STATEMENT BEFORE MAKING ANY INVESTMENT.

THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO, THE COMPANY’S MANAGEMENT.  WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE.  THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

 

SOURCE XTI Aircraft Company

Web Site: http://www.xtiaircraft.com

 
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