Summary by Futu AI
Jet.AI Inc. (JTAIZ.US) has announced a series of significant corporate events and proposed changes requiring stockholder approval. These include a private placement with Ionic Ventures, LLC, involving the issuance of Series B Convertible Preferred Stock, a warrant to purchase additional Series B Preferred Stock, and common stock shares. The transaction is subject to stockholder approval due to the potential issuance of common stock exceeding 20% of the outstanding shares at a price less than the minimum price defined by Nasdaq Listing Rule 5635(d), which may also result in a change of control under Nasdaq Listing Rule 5635(b). Additionally, a settlement agreement with Maxim Group LLC has been reached, where Jet.AI Inc. issued Series A Convertible Preferred Stock and...Show More