Jet.AI amends GEM warrant to include 4.99% beneficial ownership limitation

Jet.AI Inc.

GEM Yield Bahamas and Jet.AI entered warrant amendment on Oct 23, 2023, retroactive to Aug 10, 2023.
Amendment permits GEM to cap beneficial ownership at 4.99% after exercise; GEM elected the limit.
Warrant term amended to expire on third anniversary of public listing date.
GEM may revoke the limit with 61-day written notice to the Company.

item 1.01 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. amended GEM Warrant Amendment with GEM Yield Bahamas Limited (effective 2023-10-23).

Action: amendment
Counterparty: GEM Yield Bahamas Limited
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, GEM Yield Bahamas Limited (“GEM”) and Jet.AI, Inc. (the “Company”) entered into a warrant amendment agreement, retroactively effective as of August 10, 2023 (the “GEM Warrant Amendment”).

View on SEC.gov

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

Jet.AI Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-038445

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.