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SC TO-I: Issuer tender offer statement

SEC announcement ·  Jun 27 19:32
Summary by Futu AI
Jet.AI Inc., a Delaware corporation, has announced a tender offer to its warrant holders, providing an opportunity to exchange their outstanding warrants for common shares. The offer is subject to terms and conditions detailed in the prospectus/offer to exchange dated June 27, 2024, and the related Letter of Transmittal. The company is also soliciting consents to amend the Redeemable Warrant Agreement and the Merger Consideration Warrant Agreement, allowing the company to exchange outstanding warrants for 10% fewer common shares than the exchange ratio would otherwise provide upon the closing of the offer. The offer involves three types of warrants: Redeemable Warrants, Private Warrants, and Merger Consideration Warrants, with a total of 23,052,625 warrants outstanding as of June 26, 2024. In exchange, Jet.AI Inc...Show More
Jet.AI Inc., a Delaware corporation, has announced a tender offer to its warrant holders, providing an opportunity to exchange their outstanding warrants for common shares. The offer is subject to terms and conditions detailed in the prospectus/offer to exchange dated June 27, 2024, and the related Letter of Transmittal. The company is also soliciting consents to amend the Redeemable Warrant Agreement and the Merger Consideration Warrant Agreement, allowing the company to exchange outstanding warrants for 10% fewer common shares than the exchange ratio would otherwise provide upon the closing of the offer. The offer involves three types of warrants: Redeemable Warrants, Private Warrants, and Merger Consideration Warrants, with a total of 23,052,625 warrants outstanding as of June 26, 2024. In exchange, Jet.AI Inc. is offering up to 12,334,621 common shares. The company's executive officers and directors are listed, with Mike Winston serving as the Interim Chief Executive Officer. The tender offer is part of the company's broader strategy, which does not include any extraordinary transactions or changes in the present board of directors or management, as detailed in the prospectus/offer to exchange.

This announcement is a separate document:

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