On June 27, 2024, Jet.AI Inc., a Delaware-based company, announced the launch of an exchange offer and consent solicitation for its outstanding warrants. The offer targets redeemable warrants, merger consideration warrants, and private placement warrants, providing an opportunity for holders to exchange their warrants for shares of Jet.AI common stock. The exchange ratios are set at 0.3054 shares for redeemable and private placement warrants, and 1.0133 shares for merger consideration warrants. In conjunction with the offer, Jet.AI is seeking consent to amend warrant agreements to potentially reduce the exchange ratio by 10%. The offer and consent solicitation are detailed in a prospectus/offer to exchange and Schedule TO, both dated June 27, 2024, and will expire on July 25, 2024, unless extended. The company has...Show More

On June 27, 2024, Jet.AI Inc., a Delaware-based company, announced the launch of an exchange offer and consent solicitation for its outstanding warrants. The offer targets redeemable warrants, merger consideration warrants, and private placement warrants, providing an opportunity for holders to exchange their warrants for shares of Jet.AI common stock. The exchange ratios are set at 0.3054 shares for redeemable and private placement warrants, and 1.0133 shares for merger consideration warrants. In conjunction with the offer, Jet.AI is seeking consent to amend warrant agreements to potentially reduce the exchange ratio by 10%. The offer and consent solicitation are detailed in a prospectus/offer to exchange and Schedule TO, both dated June 27, 2024, and will expire on July 25, 2024, unless extended. The company has also issued a press release to announce the commencement of the offer and consent solicitation. This strategic move aims to simplify Jet.AI's capital structure and mitigate the dilutive impact of the warrants. The company's common stock and warrants are traded on the Nasdaq under the symbols 'JTAI', 'JTAIW', and 'JTAIZ'. As of June 26, 2024, Jet.AI has over 12 million shares of common stock and a significant number of outstanding warrants. Jet.AI operates in the software and aviation sectors, with products like the CharterGPT app and the Jet.AI Operator platform, and offers various aviation services.