secwatch.observer — SEC 8-K summary
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Issuer:     Jet.AI Inc. (JTAI)
CIK:        0001861622
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001493152-23-028481
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 1.01, 2.01, 9.01, 3.02, 3.03, 5.03, 5.01, 5.02, 5.05, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/0001493152-23-028481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1861622/000149315223028481/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-028481

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer