The TriFan 600 project, currently in development by Denver-based XTI Aircraft, has reached an agreement with Primary Capital LLC for Series B financing totaling $20 million. This batch of funds should give investors some peace of mind when putting up their money toward the developmental VTOL aircraft.
XTI Continues Creative Financing Program for TriFan 600 Project
Key Takeaways:
- XTI Aircraft's TriFan 600 project secured $20 million in Series B financing from Primary Capital LLC to fund its prototype development.
- The Series B financing is offered to accredited investors as convertible notes, maturing around the projected first flight of the piloted subscale prototype.
- Non-accredited investors can also invest in XTI through an ongoing equity crowdfunding campaign, which had raised $1.7 million from over 700 investors by July.
- The TriFan 600 is a six-seat, vertical takeoff and landing (VTOL) aircraft designed to cruise at 340 knots.
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