Xeriant closes key $6m financing

Xeriant, Inc. ("Xeriant" or "The Company"), an aerospace company dedicated to Advanced Air Mobility, announced the closing of $6.05 million in financing, a key component in fulfilling the Company's obligations under its previously announced joint venture with XTI Aircraft Company ("XTI"), a cleantech OEM and developer of a leading hybrid-electric VTOL aircraft, the TriFan 600. Maxim Group LLC acted as the exclusive placement agent for the offering.

"This financing allows us to satisfy our joint venture funding commitment while we continue on the path toward negotiating and executing a definitive merger agreement with XTI, which we intend to follow with a public offering and uplist to a national exchange," commented Keith Duffy, CEO of Xeriant.