Jet.AI Inc., a Delaware-based private aviation and artificial intelligence company, announced the successful completion of its exchange offer and consent solicitation for its outstanding warrants on July 30, 2024. The offer, which expired on July 25, 2024, resulted in the tender of approximately 90.6% of redeemable warrants, 100% of private placement warrants, and 67.7% of merger consideration warrants. The company accepted all validly tendered warrants and settled them by issuing approximately 9.5 million shares of common stock. Additionally, Jet.AI received the necessary approval to amend warrant agreements from 2018 and 2023, which will allow the company to exchange the remaining warrants for 10% fewer shares of common stock than originally stipulated. The final exchange is scheduled for August 15, 2024, after which no warrants will remain outstanding. The company expects to issue an additional 2.4 million shares of common stock as a result of this final exchange. Morrow Sodali LLC and Continental Stock Transfer & Trust Company served as the Information and Exchange Agents, respectively, for the offer.

Jet.AI Inc., a Delaware-based private aviation and artificial intelligence company, announced the successful completion of its exchange offer and consent solicitation for its outstanding warrants on July 30, 2024. The offer, which expired on July 25, 2024, resulted in the tender of approximately 90.6% of redeemable warrants, 100% of private placement warrants, and 67.7% of merger consideration warrants. The company accepted all validly tendered warrants and settled them by issuing approximately 9.5 million shares of common stock. Additionally, Jet.AI received the necessary approval to amend warrant agreements from 2018 and 2023, which will allow the company to exchange the remaining warrants for 10% fewer shares of common stock than originally stipulated. The final exchange is scheduled for August 15, 2024, after which no warrants will remain outstanding. The company expects to issue an additional 2.4 million shares of common stock as a result of this final exchange. Morrow Sodali LLC and Continental Stock Transfer & Trust Company served as the Information and Exchange Agents, respectively, for the offer.