Jet.AI Inc., a Delaware corporation, has filed Amendment No. 2 to its Tender Offer Statement on Schedule TO with the SEC, detailing an offer to exchange outstanding warrants for shares of common stock. The offer, which is subject to specific terms and conditions, allows warrant holders to receive a fixed number of common shares per warrant, as determined by the exchange ratio. The offer is made through a prospectus/offer to exchange, dated July 22, 2024, and a related Letter of Transmittal and Consent. In conjunction with the offer, Jet.AI Inc. is also seeking consent from warrant holders to amend the Warrant Agreements, which would allow the company to exchange each outstanding warrant for 10% fewer common shares than the exchange ratio...Show More

Jet.AI Inc., a Delaware corporation, has filed Amendment No. 2 to its Tender Offer Statement on Schedule TO with the SEC, detailing an offer to exchange outstanding warrants for shares of common stock. The offer, which is subject to specific terms and conditions, allows warrant holders to receive a fixed number of common shares per warrant, as determined by the exchange ratio. The offer is made through a prospectus/offer to exchange, dated July 22, 2024, and a related Letter of Transmittal and Consent. In conjunction with the offer, Jet.AI Inc. is also seeking consent from warrant holders to amend the Warrant Agreements, which would allow the company to exchange each outstanding warrant for 10% fewer common shares than the exchange ratio initially provided in the offer. The amendments require the approval of a majority of the outstanding warrants, with specific thresholds for different types of warrants. The offer is set to expire on July 25, 2024, with the company intending to effect the Warrant Amendments immediately after. The amendment supplements the Schedule TO by updating information and adding additional exhibits, including certificates of designation for preferred stock and an amendment to a settlement agreement.