---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-031477"
form_type: "8-K"
ticker: "JTAI"
cik: "0001861622"
company_name: "Jet.AI Inc."
filed_at: "2023-09-01T23:59:59+00:00"
generated_at: "2026-06-11T00:46:05.113605+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Jet.AI amends forward purchase agreement; reduces prepayment to $875K, extends valuation date to 2 years

## Summary
- Prepayment shortfall reduced from $1.25M to $875K; $625K initial and $250K at Jet.AI's request by Sept 6, 2023.
- Upon future shortfall, 75,000 recycled shares released to Seller as additional share consideration.
- Shortfall sales covenant now starts on prepayment date or earlier registration request, not on registration effective date.
- Valuation date extended from 1 year to 2 years after business combination closing (Aug 10, 2023).
- Amendment dated Aug 31, 2023, among Jet.AI, Jet Token, and Meteora entities.

## SEC filing metadata
- accession: 0001493152-23-031477
- form_type: 8-K
- ticker: JTAI
- cik: 0001861622
- company_name: Jet.AI Inc.
- filed_at: 2023-09-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1861622/000149315223031477/0001493152-23-031477-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1861622/000149315223031477/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-031477
- JSON: https://secwatch.observer/filing/0001493152-23-031477.json
- Plain text: https://secwatch.observer/filing/0001493152-23-031477.txt

## Key facts
- Material Agreements
  Jet.AI Inc. amended Forward Purchase Agreement Confirmation Amendment with Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC valued at $875,000 (effective 2023-08-31).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC
  - Value: $875,000
  - Effective: 2023-08-31
  source text: On August 31, 2023, Jet.AI Inc. (the “Company”) and Meteora Capital Partners, LP (“MCP”), Meteora Select Trading Opportunities Master, LP (“MSTO”), and Meteora Strategic Capital, LLC (“MSC” and, collectively with MCP and MSTO, “Seller”) and Jet Token Inc. entered into an amendment (“Forward Purchase Agreement Confirmation Amendment”) to that certain Forward Purchase Agreement for OTC Equity Prepaid Forward Transactions dated August 6, 2023 by and between the Company and Seller (the “Forward Purchase Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1861622/000149315223031477/0001493152-23-031477-index.htm

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