Jet.AI Inc., a company operating in software and aviation segments, has filed an amendment to its Form 8-K with the SEC on November 8, 2024, to disclose the filing of a Certificate of Correction to its Certificate of Incorporation. The correction pertains to the treatment of fractional shares resulting from the company's reverse stock split, which will be replaced with a cash payment. The reverse stock split, at a ratio of 1-for-225, is set to take effect at 12:01 a.m. on November 12, 2024, with the aim of regaining compliance with Nasdaq's minimum bid price requirement and making additional shares available for future issuance. The company's common stock will continue trading on the Nasdaq under the symbol JTAI. The reverse...Show More

Jet.AI Inc., a company operating in software and aviation segments, has filed an amendment to its Form 8-K with the SEC on November 8, 2024, to disclose the filing of a Certificate of Correction to its Certificate of Incorporation. The correction pertains to the treatment of fractional shares resulting from the company's reverse stock split, which will be replaced with a cash payment. The reverse stock split, at a ratio of 1-for-225, is set to take effect at 12:01 a.m. on November 12, 2024, with the aim of regaining compliance with Nasdaq's minimum bid price requirement and making additional shares available for future issuance. The company's common stock will continue trading on the Nasdaq under the symbol JTAI. The reverse stock split will affect all shareholders uniformly and will not change the par value per share or the total number of authorized shares. Adjustments will be made to the company's equity awards, convertible preferred stock, and warrants. Jet.AI Inc. also issued a press release on November 11, 2024, reaffirming the reverse stock split and its expected effects.