Jet.AI exchanges 194,729 public warrants for 194,729 common shares

Jet.AI Inc.

Exchanged 194,729 public warrants (exercise $11.50) for 194,729 shares of common stock with unaffiliated holder.
Warrants originally issued in August 2021 IPO; cancelled upon exchange.
Issuance exempt from registration under Section 3(a)(9) of Securities Act.
Shares issued without restrictive legends via DTC DWAC system.
Exchange reduces outstanding warrants and corresponding potential dilution.

item 1.01 item 3.02 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 Warrant Exchange Agreement with unaffiliated third party investor (effective 2024-01-17).

Action: entry
Counterparty: unaffiliated third party investor
Effective: 2024-01-17

Exact text from the filing

On January 17, 2024, Jet.AI Inc., a Delaware corporation (the “Company”), entered into a Warrant Exchange Agreement (the “Warrant Exchange Agreement”) with an unaffiliated third party investor (the “Warrant Holder”) with respect to warrants to purchase an aggregate of 194,729 shares of its common stock, par value $0.0001 per share (the “Common Stock”) initially issued by the Company in its initial public offering on August 16, 2021 (the “Public Warrants”).

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Jet.AI Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-002786

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