XTI Aircraft Company (XTI) today announced that it will establish an over-the-counter secondary market so current and future shareholders will have the ability to buy and sell XTI shares on a public market.
The phenomenal success of XTI Aircraft’s equity crowdfunding campaign has prompted the maker of the TriFan 600 to extend it through mid-April, company officials said.
Aimed at corporate travel, the TriFan 600 combines a business jet’s range with a helicopter’s vertical takeoff ability.
XTI Founder and Chairman David Brody said he has been approached by several companies offering to help them develop a secondary market for XTI shares, which are valued at one dollar in the offering. The added liquidity is bound to generate additional interest in XTI.
“We’re listening to our shareholders,” Mr. Brody said. “As our company continues to grow over the next several years, we want to provide existing investors and our future shareholders with the opportunity to benefit from that growth by being able to buy and sell XTI shares. We’ve always looked at our Reg A+ offering as a ‘mini-IPO’, and now we want to take advantage of this special feature allowed under the SEC regulations.”
The securities of close to 10,000 companies already trade over the counter, Mr. Brody explained.
“It’s an established system and is a next logical step.”
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