---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-028481"
form_type: "8-K"
ticker: "JTAI"
cik: "0001861622"
company_name: "Jet.AI Inc."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T12:48:42.329549+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Jet.AI closes de-SPAC merger; 8.7M shares, 24.4M warrants outstanding

## Summary
- Completed merger with Oxbridge Acquisition Corp. on Aug 10, 2023; renamed Jet.AI Inc., trades as JTAI.
- Post-merger equity: 8,715,043 common shares; 17,249,334 warrants at $11.50; 7,196,375 warrants at $15.00.
- Issued 247,756 shares to Meteora under Forward Purchase Agreement; also issued 270,000 shares and 1,127 Series A Preferred to Maxim as settlement.
- Lock-up agreements for ~7.7M shares held by Michael Winston and George Murnane restrict trading.
- Sponsor received 575 Series A-1 Preferred shares to settle a $575K promissory note.

## SEC filing metadata
- accession: 0001493152-23-028481
- form_type: 8-K
- ticker: JTAI
- cik: 0001861622
- company_name: Jet.AI Inc.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.01, 9.01, 3.02, 3.03, 5.03, 5.01, 5.02, 5.05, 5.06
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/0001493152-23-028481-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-028481
- JSON: https://secwatch.observer/filing/0001493152-23-028481.json
- Plain text: https://secwatch.observer/filing/0001493152-23-028481.txt

## Key facts
- Governance Changes
  Jet.AI Inc.: The Company ceased being a shell company as a result of the Business Combination (effective 2023-08-10).
  - Change: shell status
  - Effective: 2023-08-10
  source text: As a result of the Business Combination, the Company ceased being a shell company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/0001493152-23-028481-index.htm
- Governance Changes
  Jet.AI Inc.: The Company filed Certificates of Designation for Series A and Series A-1 Convertible Preferred Stock, establishing the rights, preferences, privileges and other terms (effective 2023-08-10).
  - Change: charter amendment
  - Effective: 2023-08-10
  source text: On August 10, 2023, the Company filed a Certificate of Designation of Series A Convertible Preferred Stock with the Secretary of State of the State of Delaware, establishing the rights, preferences, privileges and other terms relating to the Series A Preferred Stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/0001493152-23-028481-index.htm
- Governance Changes
  Jet.AI Inc.: The board of directors approved and adopted a new Code of Business Conduct and Ethics on August 10, 2023 (effective 2023-08-10).
  - Change: code of ethics
  - Effective: 2023-08-10
  source text: In connection with the Business Combination, on August 10, 2023, the Company’s board of directors approved and adopted a new Code of Business Conduct and Ethics applicable to all employees, officers and directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/0001493152-23-028481-index.htm
- Material Agreements
  Jet.AI Inc. entered into Lock-Up Agreement with Michael Winston and George Murnane valued at 7,666,814 shares of Common Stock subject to lock-up (effective 2023-08-10).
  - Action: entry
  - Counterparty: Michael Winston and George Murnane
  - Value: 7,666,814 shares of Common Stock subject to lock-up
  - Effective: 2023-08-10
  source text: In connection with the Business Combination, Michael Winston and George Murnane each entered into a lock-up agreement with Jet.AI (the “Lock-Up Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/0001493152-23-028481-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.