The Christchurch-based firm has flagged listing intentions before, but its latest push at going public is gathering momentum. The company is touting 40 pre-orders for its jetpacks, representing $6 million in sales, and has invited investors and brokers to a pre-initial public offering (IPO) briefing in Sydney. The briefing would cover an update on the IPO and "details about the world's first public manned flight and the resulting global publicity", according to the firm's website. Martin Aircraft has already raised about half of a $5 million pre-IPO funding round from "sophisticated" investors and is looking to raise roughly $20 million more through an IPO. Close to $1 million of the pre-IPO funding would be spent on the production of five showcase jetpacks, according to the offer documents.
The company claims it has
had more than 100,000 inquiries on its jetpacks, and says it has $42.9 million
of potential pipeline orders, including serious inquiries from a Mexican
Government agency worth up to $14.6 million, as well as from the United Arab
Emirates and South African Governments and private companies in Australia,
Canada, the United States and Jordan. ..... so we will continue to play Dave,
exhausting jetpacks .... while somewhere else rich and famous people are
queuing up to use the real jet-pack to fly high.
With regards – S.
Sampathkumar
11th Aug 2014.
