Friday, January 22, 2016
XTI Earns SEC Certification
XTI Aircraft has earned a U.S. Securities and Exchange Commission (SEC) qualification under Regulation A+. Investors interested in supporting development of the new TriFan 600 aircraft will now be able to purchase stock options after the company today launched a formal stock offering.
XTI's crowdfunding campaign is among the first of its kind to make such progress. Since August, it had raised more than $20 million from more than 2,000 potential investors, but could not accept the contributions until it earned SEC certification to do so.
If developed, the TriFan would become the first commercial high-speed, long-range vertical takeoff and landing aircraft to provide door-to-door travel. If all goes to plan, a prototype could be completed in three years.