share_log

8-K: Current report

SEC ·  Aug 1 05:26
Summary by Futu AI
Jet.AI Inc., a Delaware-based private aviation and artificial intelligence company, announced the successful completion of its exchange offer and consent solicitation for its outstanding warrants on July 30, 2024. The offer, which expired on July 25, 2024, resulted in approximately 90.6% of redeemable warrants, 100% of private placement warrants, and 67.7% of merger consideration warrants being validly tendered and not withdrawn. Jet.AI accepted all validly tendered warrants and settled them by issuing approximately 9.5 million shares of common stock. Additionally, the company received the necessary approval to amend warrant agreements from 2021 and 2023, with plans to exercise its right to exchange each outstanding warrant for 10% fewer shares of common stock than originally stipulated. The final exchange is scheduled for August 15, 2024, after which no warrants will remain outstanding. The company expects to issue an additional 2.4 million shares of common stock following this exchange. Morrow Sodali LLC and Continental Stock Transfer & Trust Company served as the Information and Exchange Agents, respectively, for the offer.
Jet.AI Inc., a Delaware-based private aviation and artificial intelligence company, announced the successful completion of its exchange offer and consent solicitation for its outstanding warrants on July 30, 2024. The offer, which expired on July 25, 2024, resulted in approximately 90.6% of redeemable warrants, 100% of private placement warrants, and 67.7% of merger consideration warrants being validly tendered and not withdrawn. Jet.AI accepted all validly tendered warrants and settled them by issuing approximately 9.5 million shares of common stock. Additionally, the company received the necessary approval to amend warrant agreements from 2021 and 2023, with plans to exercise its right to exchange each outstanding warrant for 10% fewer shares of common stock than originally stipulated. The final exchange is scheduled for August 15, 2024, after which no warrants will remain outstanding. The company expects to issue an additional 2.4 million shares of common stock following this exchange. Morrow Sodali LLC and Continental Stock Transfer & Trust Company served as the Information and Exchange Agents, respectively, for the offer.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.