Summary by Futu AI
On September 24, 2024, Jet.AI Inc., a company listed on The Nasdaq Stock Market LLC under the trading symbol JTAI, entered into a material definitive agreement with Ionic Ventures, LLC. The agreement, referred to as the Letter Agreement, relates to a prior Securities Purchase Agreement dated March 28, 2024, and the associated documents and agreements. Ionic Ventures has agreed not to take action to protect its legal rights under the SPA concerning certain actions and transactions identified in the Letter Agreement that the Company has undertaken or effected before the date of the Letter Agreement. In exchange for Ionic's waiver, Jet.AI Inc. has agreed to release Ionic and its affiliates from certain obligations and will issue Ionic 50 shares of the Company...Show More