Oxbridge enters forward purchase agreement for 1.19M shares; trust ~$527K, redemption ~$11.06

Jet.AI Inc.

Entered Forward Purchase Agreement and PIPE with Meteora for up to 1,186,952 shares; $1.25M prepayment shortfall.
Trust account balance as of Aug 7, 2023: ~$526,866; estimated per-share redemption price ~$11.06.
Jet.AI (target) launched DynoFlight carbon offset platform for aviation operators; launch expected September 2023.
Meteora waived redemption rights on recycled shares, potentially reducing redemptions in the combination.

item 1.01 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Jet.AI Inc. entered into Forward Purchase Agreement with Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC valued at up to 1,186,952 Class A ordinary shares, par value $0.0001 per share (effective 2023-08-06).

Action: entry
Counterparty: Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC
Value: up to 1,186,952 Class A ordinary shares, par value $0.0001 per share
Effective: 2023-08-06

Exact text from the filing

On August 6, 2023, Oxbridge entered into an agreement with (i) Meteora Capital Partners, LP (“MCP”), (ii) Meteora Select Trading Opportunities Master, LP (“MSTO”), and (iii) Meteora Strategic Capital, LLC (“MSC” and, collectively with MCP and MSTO, “Seller”) (the “Forward Purchase Agreement”) for OTC Equity Prepaid Forward Transactions.

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38 material agreements filed in the last 30 days. Browse all material agreements →

Jet.AI Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-026964

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