Summary by Futu AI
Jet.AI Inc., a Delaware corporation, has successfully completed a tender offer and consent solicitation for its outstanding warrants. The offer, which expired on July 25, 2024, allowed warrant holders to exchange their warrants for shares of common stock. The company reported that a significant majority of the redeemable warrants, all of the private placement warrants, and a substantial portion of the merger consideration warrants were validly tendered and not withdrawn by the expiration date. On July 30, 2024, Jet.AI Inc. accepted all validly tendered warrants, resulting in the issuance of approximately 9.5 million common shares. Following the tender offer, the company also received the necessary approval from warrant holders to effect warrant amendments, which allowed for a post-offer exchange at a reduced...Show More