Jet.AI Inc. has initiated an active exchange offer and consent solicitation for its outstanding warrants, which is set to expire at 11:59 p.m., Eastern Time, on July 25, 2024. The company is proposing to exchange Redeemable Warrants, Private Warrants, and Merger Consideration Warrants for shares of its common stock. The exchange ratios are set at 0.3054 common shares for each Redeemable or Private Warrant and 1.0133 common shares for each Merger Consideration Warrant. Fractional shares will not be issued; instead, warrant holders will receive the nearest whole share. Participation in the exchange offer requires warrant holders to consent to Warrant Amendments, which, if approved, would allow Jet.AI to mandate the exchange of all outstanding warrants. The offer is not dependent on a...Show More

Jet.AI Inc. has initiated an active exchange offer and consent solicitation for its outstanding warrants, which is set to expire at 11:59 p.m., Eastern Time, on July 25, 2024. The company is proposing to exchange Redeemable Warrants, Private Warrants, and Merger Consideration Warrants for shares of its common stock. The exchange ratios are set at 0.3054 common shares for each Redeemable or Private Warrant and 1.0133 common shares for each Merger Consideration Warrant. Fractional shares will not be issued; instead, warrant holders will receive the nearest whole share. Participation in the exchange offer requires warrant holders to consent to Warrant Amendments, which, if approved, would allow Jet.AI to mandate the exchange of all outstanding warrants. The offer is not dependent on a minimum number of warrants being exchanged and those not exchanged will remain outstanding, either under the current terms or as amended, with the company retaining redemption rights. Continental Stock Transfer & Trust Company is serving as the exchange agent, and Morrow Sodali LLC is the information agent for the offer. The offer is void in jurisdictions where it is not lawful.